SpaceX Shareholder Leads Multi-Billion-Dollar Payout Deal

On Friday, SpaceX is set to begin trading in what is described as the largest public offering on record, creating enormous paper wealth for a wide circle of Elon Musk’s friends, investors and associates. Among the biggest beneficiaries is Justin Fishner-Wolfson, a relatively low-profile venture capitalist whose firm, 137 Ventures, has spent about 15 years quietly accumulating private SpaceX shares and has never sold any of them. The firm now owns more than 1% of SpaceX, a stake worth an estimated $20 billion at the company’s expected $1.77 trillion valuation at listing.

Fishner-Wolfson’s involvement with SpaceX dates back to 2008, when he was a junior investor at Peter Thiel’s Founders Fund and was assigned to monitor the company at a time when it was still seen by many as a risky experiment. He witnessed one of SpaceX’s early rocket failures in person, but Founders Fund remained committed, and its $20 million investment has since grown to be worth billions. That experience helped shape Fishner-Wolfson’s long-term conviction in the company.

After founding 137 Ventures in 2011, Fishner-Wolfson made SpaceX the centerpiece of his strategy, raising capital globally and even buying shares from employees when possible. The firm has also invested in other startups, including Uber, but SpaceX has remained its defining bet. Its San Francisco office even includes a rocket engine displayed in the entryway, underscoring the firm’s long-standing focus on the company.

The article describes Fishner-Wolfson as a serious but understated investor who has stayed away from the celebrity culture surrounding Musk and Silicon Valley. He is said to have held candid conversations with SpaceX executives over the years, while largely ignoring Musk’s personal and political controversies. He emphasizes that the business of SpaceX matters more than Musk’s public image.

Now, with SpaceX finally going public, Fishner-Wolfson faces a major decision: whether to hold or sell once restrictions expire. Pre-IPO investors are not allowed to sell immediately and will face additional limits after the company’s first earnings report and for six months after the offering. Fishner-Wolfson says he plans to distribute much of his firm’s SpaceX stock to investors as soon as possible so they can decide individually whether to cash out or stay invested.

Even after a massive listing, he remains optimistic about the company’s future, saying he believes SpaceX could be worth many times its debut valuation. Still, he acknowledges the uncertainty surrounding the stock’s first days of trading, noting that shares could surge dramatically or fall sharply once they reach the public market.