Blue Owl Discloses Significant Reduction in SpaceX Holding Amid Valuation of Approximately $1.25 Trillion
Blue Owl Sells Half of SpaceX Stake at $1.25 Trillion Valuation
NEW YORK, April 30 (Reuters) - Blue Owl, the alternative asset manager, has sold approximately half of its investment in SpaceX at a valuation of $1.25 trillion, according to co-CEO Marc Lipschultz. This sale comes as SpaceX is expected to go public this year at a possible valuation of $1.75 trillion, raising about $75 billion in what would be the largest public listing on record. The deal could put founder and CEO Elon Musk on track to become the world's first trillionaire.
Blue Owl made a significant profit from its investment in SpaceX, with Lipschultz stating that the company made about 10 times its money on the investment. The alternative asset manager sold about half of its stake at the $1.25 trillion valuation, still holding onto the remaining half. This sale is a strategic move by Blue Owl to offset potential credit losses.
Blue Owl's funds have been invested in SpaceX since 2021, with the Blue Owl Technology Finance Corp investing $27 million of equity in the company. The fund has written up the value of its SpaceX stock several times since, with a fair value of $195 million assigned at the end of 2025. This valuation increased by $105 million over the year, making SpaceX the biggest contributor to unrealized gains for the fund. OTF mainly holds software assets, and SpaceX is its only equity investment in the aerospace sector.
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A separate fund, Blue Owl Capital Corp, also held SpaceX stock at the end of 2025, with a valuation of $21.7 million on December 31. This is up from a mark of $10 million a year earlier. Blue Owl was one of SpaceX's earliest lenders and eventually made the equity investment, giving the company the opportunity to participate in ongoing conversations about other financing opportunities.
| Fund | 2021 Investment | 2025 Valuation |
|---|---|---|
| Blue Owl Technology Finance Corp | $27 million | $195 million |
| Blue Owl Capital Corp | N/A | $21.7 million |
Note: The investment details for Blue Owl Capital Corp in 2021 are not provided in the original text.
Investor Takeaway
Investors should be aware of the potential for significant returns on investments in high-growth companies like SpaceX.
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