If SpaceX goes public at a valuation of $1.75 trillion, multiple hedge funds will reap huge returns BlockBeats News: On May 19th, according to the Financial Times, hedge fund D1 Capital Partners is expected to be one of the biggest winners of SpaceX's IPO next month, with several Wall Street companies expected to make huge profits. According to insiders, if SpaceX goes public at its expected valuation of $1.75 trillion, Dan Sundheim's D1 Capital Partners' holdings will be worth approximately $20 billion. D1 was one of the few early hedge funds to invest in SpaceX, and at the time, going public seemed out of reach. Sundheim's fund first invested in SpaceX in 2020, when the company was valued at approximately $36 billion. Its holdings in the company account for a significant proportion of its total assets and contribute significantly to its earnings. The fund currently manages approximately $35 billion. Sundheim told investors last year that he had no intention of selling any positions, "despite receiving a large number of highly substantial inquiries. Darsana Capital Partners, a highly low-key hedge fund, will also receive billions of dollars in returns. The fund was founded by Anand Desai in 2014 and was valued at approximately $33 billion when he first invested in SpaceX in 2019. The company has participated in several rounds of financing, including purchasing shares from employees who wish to cash out through tender offers. Its holdings subsequently expanded due to early investments in X - Musk merged the social media platform with its AI lab xAI, which later merged with SpaceX. According to insiders, if SpaceX reaches its expected valuation of $1.75 trillion, this New York hedge fund is expected to hold approximately $15 billion worth of SpaceX shares. This figure does not include its indirect exposure to SpaceX formed through its investment in EchoStar - EchoStar had previously reached a spectrum licensing deal with SpaceX, which included payment in the form of Rocket Group shares. The growth of SpaceX has accelerated in the past five years thanks to the success of Starlink, a satellite internet service that contributed more than half of the group's US $18.7 billion revenue last year, and the company's rocket launch business. Musk also pushed SpaceX's overall valuation from less than $400 billion a year ago to $1.25 trillion today through a series of transactions with X and xAI. In recent weeks, Musk has also acquired the rights to acquire programming startup Cursor for $60 billion and reached a deal with AI group Anthropic to lease excess computing power. According to an investor of the company, this arrangement may bring about $5 billion in revenue growth annually. [Original link]