Ontario Teachers Made Billions on SpaceX Through Wild Stock Price Swings

Ontario Teachers’ Pension Plan says its early 2019 investment in SpaceX has become a multibillion-dollar winner, with the stake valued at about US$8.7 billion as of June 30 after SpaceX’s June IPO priced shares at US$135 and valued the company near US$1.77 trillion. The article highlights how the pension fund’s venture growth portfolio drove a 9.5% first-half 2026 return and $26.6 billion in net investment income, largely due to the SpaceX revaluation. However, the SpaceX stake later fell nearly 20% from the June 30 mark before rebounding above the IPO price to around US$138, up 23% over five days. The piece also notes governance concerns around Elon Musk’s control and that Ontario Teachers has begun selling part of its position as lockup restrictions expire.