NEWS: Founders Fund turned a $600 million bet on SpaceX into more than $50 billion.
Peter Thiel's Founders Fund was the first institutional investor in SpaceX. It put in about $600 million across several rounds over nearly 20 years.
At the $135
$SPCX IPO price, that roughly 3% stake is worth more than $50 billion, Bloomberg reports. It is one of the great venture bets of all time.
Founders Fund is not alone. Bloomberg says Valor Equity holds about 4% worth nearly $70 billion. Andreessen Horowitz sits on more than $10 billion.
Thiel saw it coming. "I would never bet against Elon in anything." Hard rule number one in Silicon Valley.