SpaceX Could Deliver an $11.6 Billion Windfall for 346,000 Teachers and Retirees — Worth $33,500 Each

Elon Musk plans to raise $75B with SpaceX’s IPO, valuing it at $1.77T and potentially making him the world’s first trillionaire. (Credit: SpaceX | Wikimedia Commons)

The Ontario Teachers' Pension Plan (OTPP) saw promise in SpaceX in June 2019, enough to convince it to make the Elon Musk-led company the first investment of its then newly created venture arm. At the time, the arm of the pension plan, now known as Teacher's Venture Growth (TVG), was placing stakes in up-and-coming companies that had outgrown their early financial stages.

According to unnamed sources cited by The Globe and Mail, OTPP made an initial investment in SpaceX in 2019 worth roughly $300 million. It was one of multiple investors that collectively infused funding into SpaceX, with the round later reported to have reached $1.33 billion.