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Harvard reveals $2.2B SpaceX stake after Elon Musk company IPO
Fox Business • • business
Key Points:
- Harvard Management Company disclosed a $2.2 billion stake in SpaceX, making it the largest individual stock holding in its $4.3 billion U.S. equities portfolio following SpaceX’s recent public debut.
- The investment reflects significant gains from SpaceX’s June IPO, benefiting university endowments that invested in the company through venture capital years ago.
- Other universities, including the University of California, University of North Carolina, and Washington University in St. Louis, also hold substantial investments in SpaceX.
- SpaceX’s current valuation exceeds $1.8 trillion, providing a notable financial boost amid challenges faced by university finances, such as federal funding uncertainties and demographic shifts.
- Despite fluctuations in SpaceX’s stock price since its IPO, large university endowments have reported strong returns, with funds managing over $500 million achieving a median 18.9% return before fees in the past year.
