NEWS: Twitter co-founder Jack Dorsey turned a $1 billion bet on Elon Musk into a SpaceX stake now worth about $2.6 billion.
When Musk bought Twitter in 2022, Dorsey did not cash out. He rolled his entire stake into Musk's private company instead.
That bet rode the whole chain. Twitter became X. X folded into xAI. xAI merged into SpaceX. The IPO cashed it all in.
Dorsey backed Musk from the start. In 2022 he said it plainly "Elon is the singular solution I trust."
βMy proceeds from the PayPal acquisition were $180 million. I put $100 million in SpaceX, $70m in Tesla, and $10m in Solar City. I had to borrow money for rent.β
β Elon Musk