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He Spent 15 Years Amassing SpaceX Shares. Now Comes the Windfall

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philb2

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https://www.nytimes.com/2026/06/11/business/spacex-ipo-137-ventures.html?smid=nytcore-ios-share

He has raised money from all corners of the world to buy stakes directly in the company, including by offering to buy shares from SpaceX employees. Since his investment firm, 137 Ventures, made its first investment in 2011, it has not sold any SpaceX shares, no matter the temptation to lock in profits earlier.

Little by little, Mr. Fishner-Wolfson’s firm now owns more than 1 percent of SpaceX, worth roughly $20 billion at the company’s expected $1.77 trillion valuation at its listing price. He has been privately buying SpaceX’s shares since the company was valued at $1 billion.
 
Screenshot_12-6-2026_154219_www.forbes.com.jpeg

Screenshot_12-6-2026_154155_companiesmarketcap.com.jpeg
 
HeadRusch said:
How does SpaceX make its profit?
Click to expand...
profit ;) ?

They have posted positive ebitda so they are kind of profitable, but barely and not in GAAP net operating sense, there is a reason they wanted a significant dilution and becoming public like they just did, needed a lot of cash.

They make money with starlink, rocket launch service for clients that want to ship things in space, AI compute leasing has the big 3.

They also have military-spy satellite-defense tech, human flight by nasa and some other nicher endeavors.
 
LukeTbk said:
profit ;) ?

They have posted positive ebitda so they are kind of profitable, but barely and not in GAAP net operating sense, there is a reason they wanted a significant dilution and becoming public like they just did, needed a lot of cash.

They make money with starlink, rocket launch service for clients that want to ship things in space, AI compute leasing has the big 3.

They also have military-spy satellite-defense tech, human flight by nasa and some other nicher endeavors.
Click to expand...
I don’t think they’re making any money on launches.
 
HeadRusch said:
How does SpaceX make its profit?
Click to expand...

They are not public (yet) so they ahve not had to publicly report their revenue sources, but educated guesses has their revenue looking something like this (from highest to lowest)

1.) Starlink Sattelite INternet services
2.) Commercial launch services (Falcon 9, Falcon Heavy)
3.) Government and Defense contracts (Nasa commercial crew program, Transporter ride share program)
4.) Starshield & Military Aerospace
 
Zarathustra[H] said:
They are not public (yet) so they ahve not had to publicly report their revenue sources, but educated guesses has their revenue looking something like this (from highest to lowest)
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I feel they are as of today no ?

The S-1 has been made public :
https://www.sec.gov/Archives/edgar/data/1181412/000162828026036936/spaceexplorationtechnologi.htm

Three Months Ended March 31,Three Months Ended March 31,
(in millions)20262025202520242023
Space ..................................................$1,052$759$3,832$2,032$1,497
Connectivity .......................................1,3328144,1783,4982,455
AI ........................................................7,7232,56712,7275,633463
Total Capital Expenditures .................$10,107$4,140$20,737$11,163$4,415



They seem to have split on space segment (launch), connectivity segment (starlink), AI segment (xAI compute renting) that give some idea
 
LukeTbk said:
I feel they are as of today no ?

The S-1 has been made public :
https://www.sec.gov/Archives/edgar/data/1181412/000162828026036936/spaceexplorationtechnologi.htm

Three Months Ended March 31,Three Months Ended March 31,
(in millions)20262025202520242023
Space ..................................................$1,052$759$3,832$2,032$1,497
Connectivity .......................................1,3328144,1783,4982,455
AI ........................................................7,7232,56712,7275,633463
Total Capital Expenditures .................$10,107$4,140$20,737$11,163$4,415



They seem to have split on space segment (launch), connectivity segment (starlink), AI segment (xAI compute renting) that give some idea
Click to expand...

This was also before Google monthly deal announcement IIRC?

https://www.nytimes.com/2026/06/05/technology/spacex-google-deal.html

1781308322490.png
 
kram182 said:
This was also before Google monthly deal announcement IIRC?
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filled may 20 yes for the first 3 month of the year, march 31, the anthropic deal is mentioned in text but does not show up in the number yet either, google one was yet to be announced.
 
philb2 said:
https://www.nytimes.com/2026/06/11/business/spacex-ipo-137-ventures.html?smid=nytcore-ios-share

He has raised money from all corners of the world to buy stakes directly in the company, including by offering to buy shares from SpaceX employees. Since his investment firm, 137 Ventures, made its first investment in 2011, it has not sold any SpaceX shares, no matter the temptation to lock in profits earlier.

Little by little, Mr. Fishner-Wolfson’s firm now owns more than 1 percent of SpaceX, worth roughly $20 billion at the company’s expected $1.77 trillion valuation at its listing price. He has been privately buying SpaceX’s shares since the company was valued at $1 billion.
Click to expand...
What was his initial investment and how many people does he owe? 137 Ventures has a team of 25 people: https://www.137ventures.com/team

He said he would, at the earliest opportunity, distribute to the firm’s investors most of their SpaceX shares, which would allow each to decide whether to sell or hold on longer.
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Ah journalism. NY Slimes would almost have you believe he personally made $20B. I'm sure he personally made alot of money, but I wonder how much?
 
stashinsome said:
so fuck face is a trillionaire now. where did we go wrong?
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I know it's the opposite of the way most Americans do it, but if your spending is more modest than your earnings, your wealth tends to grow and compound. It sure doesn't hurt to start wealthy.
Wealth begets wealth. They can't spend it faster that their investments make it.
 
sleepeeg3 said:
Ah journalism. NY Slimes would almost have you believe he personally made $20B. I'm sure he personally made alot of money, but I wonder how much?
Click to expand...
I think the article is clear enough that he was rising money to buy them via an investment firm and not just for himself. (even mention they talked to 3 others investor in that fund) and they would at the earliest they legally can will distribute the shares to the fund holders.
 
Gorankar said:
I know it's the opposite of the way most Americans do it, but if your spending is more modest than your earnings, your wealth tends to grow and compound.
Click to expand...
Most american build wealth over their life because their spending is more modest than their earnings, from house equity, to 401k to building expected social security benefit by paying for current retiree.

Entrepreneur that starts companies and work in them (as CEO or other role) is a bit different than a passive investor (OpenAI he was only co-chair so less involved than SpaceX but still quite a bit), he just did not put 100+ millions to start SpaceX, he was an employee as CEO has well.
 
LukeTbk said:
I think the article is clear enough that he was rising money to buy them via an investment firm and not just for himself. (even mention they talked to 3 others investor in that fund) and they would at the earliest they legally can will distribute the shares to the fund holders.
Click to expand...
They added that at the very end, like most clickbait journalism. He has to divide it with X number of investors and potentially 25 staff members. Not at all clear how much he personally gained.
 
stashinsome said:
so fuck face is a trillionaire now. where did we go wrong?
Click to expand...
In the United States, I think people overestimate how much money is "at the top". Yes, there is a lot but not as much "out of the pockets of the rest of us" as you would think.

You could take all of the money from the top 1,000 wealthiest people in the US and split it up amongst the population for a one time payment of like 20k per person.

If you think what Elon (and others like him) is doing is so terrible, you could completely destroy the entire economic motivation from the past 250 years of innovation, and destroy generations of built wealth/businesses for a 1 time payment of 20k in a theoretical model to "fix it" to make it where "we're all equal".

Is that worth it to you?

IMO, there is no one in this country where a 1 time payment of 20k is going to turn things around for their lifetime and solve all of the economic disparities for them or anyone else. After that 1 time payment, it would take destroying the lives of 10's of thousands more people to do it again the next year. In a few years, there will be nobody left to take from, and then, who's going to want to rebuild knowing there is no reward for doing so.
 
bigdogchris said:
IMO, there is no one in this country where a 1 time payment of 20k is going to turn things around for their lifetime and solve all of the economic disparities for them or anyone else. After that 1 time payment, it would take destroying the lives of 10's of thousands more people to do it again the next year. In a few years, there will be nobody left to take from, and then, who's going to want to rebuild knowing there is no reward for doing so.
Click to expand...
There are takers, and there are producers...its easy to see who is who in this thread.
 
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