SpaceX's Sky-High IPO, Google Could See 100x Return and $100 Billion Profit as Top Winner, Binance Could Earn $990 Million

May 20 – SpaceX’s highly anticipated initial public offering (IPO), the largest in history, is on the horizon. According to the latest data from trade.xyz, the company’s estimated market valuation is no less than $20 trillion. BlockBeats has compiled profit and loss details for major institutional investors, based on SpaceX’s merger with xAI and X, and post-combination equity distribution, as follows: Alphabet, Google’s parent company, holds a 5% stake. This position is valued at hundreds of billions of dollars, delivering a net profit of $99.1 billion for a return multiple of 110 times. Next up is Baron Capital, one of SpaceX’s long-term key investors. The firm’s holding is valued at around $23.9 billion, with profit appreciation of roughly $21.8 billion, translating to a return multiple of 10.4 times. Ranking third on the return leaderboard is D1 Capital Partners. As an early and consistent investor, SpaceX is a core part of its private equity portfolio. The institution’s stake is valued at about $22.9 billion, with profit appreciation of approximately $22.3 billion, yielding a return multiple of 37.2 times. Additionally, in 2022, Binance, led by CZ, invested roughly $500 million to help Elon Musk complete his acquisition of Twitter, now rebranded as X. Today, Binance’s stake in X has been converted to SpaceX shares through multiple equity conversions. The exchange’s holding is estimated to be valued at around $1.5 billion, with profit appreciation of about $993 million, giving a return multiple of 2 times.