Harvard University has recently revealed its $۲.۲ billion investment in SpaceX, indicating the substantial profits from an early investment in Elon Musk's rocket company. This investment, disclosed in a legal statement, has made SpaceX the largest equity asset in Harvard's $۴.۳ billion portfolio.
Significant Profits from the Public Offering
This investment demonstrates the remarkable profits that SpaceX's unprecedented public offering in June has brought to universities. These universities gained access to the company through venture capital investments, in some cases over a decade ago. The University of California has also recently announced its nearly $۱ billion investment in SpaceX, and the universities of North Carolina and Washington are also on this bandwagon.
Financial Challenges and Strong University Performance
Harvard manages about $۵۷ billion and, despite financial challenges stemming from uncertainty in federal research funding and a declining student population, continues to perform strongly in capital markets. According to the latest statistics, university endowments managing over $۵۰۰ million have achieved an average return of ۱۸.۹% before expenses in the fiscal year ending in June.
SpaceX is currently valued at over $۱.۸ trillion in the market. Meanwhile, the company's stock has experienced significant fluctuations since its public offering, which started at $۱۳۵, and on Friday it fell ۰.۹% to $۱۴۰. Investment managers who manage over $۱۰۰ million in U.S. stocks are typically required to submit Form ۱۳F, which provides a snapshot of their assets.
