Vy Capital Holds $40 Billion in SpaceX Shares, Becomes Fifth Largest Shareholder

Vy Capital currently holds approximately $40 billion worth of SpaceX shares, with a stake of about 3.4%. The firm has become the fifth largest shareholder of SpaceX, surpassing both Sequoia Capital and Andreessen Horowitz. Vy Capital first invested in SpaceX in 2016 when the company's valuation was around $15 billion; since SpaceX went public this year with an estimated valuation of about $1.75 trillion, the value of its holdings has significantly increased. Vy Capital is also the largest external investor in Elon Musk's The Boring Company and Neuralink, and had pledged $700 million for Musk's acquisition of Twitter in 2022. Vy Capital's head, John Hering, has a close relationship with Musk and has been involved in the early development of Starlink since 2019. Vy Capital's managed assets have grown from $27 billion at the end of last year to $50 billion in June this year, with expectations that SpaceX's valuation will exceed $10 trillion in the next 5 to 7 years. The firm currently has only a few dozen employees, with a core investment team of four, and has stopped accepting external investors since last year.

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