A Canadian Teacher Pension Fund Could Score A $11 Billion Windfall From SpaceX IPO

BreakingBusinessA Canadian Teacher Pension Fund Could Score A $11 Billion Windfall From SpaceX IPOByConor Murray,Forbes Staff. Murray is a Forbes news reporter covering entertainment trends.Follow AuthorJun 08, 2026, 11:37am EDTToplineA Canada-based teachers’ pension fund could earn a massive return of up to $11 billion on a private investment of about $220 million it made in billionaire Elon Musk’s SpaceX seven years ago.SpaceX is planning to go public this week. (Photo by Michael Yanow/NurPhoto via Getty Images)NurPhoto via Getty ImagesKey FactsThe Ontario Teachers’ Pension Plan invested about $220 million in U.S. dollars in SpaceX in 2019, when the company was valued somewhere between $33 billion and $36 billion, The Globe and Mail reported. SpaceX is hoping for a $1.75 trillion initial public offering valuation with shares priced at $135 each, which would make the Ontario Teachers’ investment worth $11.6 billion, the Globe and Mail reported, citing unnamed sources.The Ontario Teachers’ Pension Plan is Canada’s largest single-profession pension plan with $279.4 billion in net assets as of the end of 2025, covering 346,000 working and retired teachers.It’s unclear, though, what Ontario Teachers’ will do with its stake in SpaceX, as its chief investment officer Gillian Brown said in March the IPO is not necessarily “a target exit point,” adding the fund may wait to see whether SpaceX’s acquisition of Musk’s xAI will position the company for “another potential leg of venture-like growth.”In March, the Ontario Teachers’ Pension Plan reported a 6.7% return on investments in 2025 and a 30% surge in its venture growth portfolio, largely thanks to its investment in SpaceX, even as it posted its first private equity loss since 2009.Forbes has reached out to the Ontario Teachers’ Pension Plan for comment. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() {...