For high-net-worth individuals (HNWIs), investing isn’t just about public stocks and ETFs, it’s about accessing exclusive opportunities that the average retail investor can’t touch. One of the most coveted investments in today’s market is SpaceX.

The privately held space giant, founded by Elon Musk, is revolutionizing commercial space travel, satellite internet, and interplanetary ambitions. However, unlike Tesla, SpaceX is not available on public exchanges. How can HNWIs invest in SpaceX? More importantly, how can they leverage private equity markets to gain exposure to other high-growth, pre-IPO companies?

SpaceX: A USD 350 Billion Giant That’s Still Private

In December 2024, Bloomberg reported that SpaceX was buying back shares at USD 185 each, valuing the company at USD 350 billion, a figure that dwarfs many publicly traded firms.

SpaceX has not only reduced the cost of satellite launches with its reusable rockets, but it has also created an entire new industry with Starlink, its global satellite-based internet service. The company’s future ambitions make it one of the most exciting private companies in existence.

Despite its impressive growth, SpaceX remains private. Musk has repeatedly stated that SpaceX doesn’t need public funding, and even the rumored Starlink spinoff IPO has been dismissed. This means public investors remain locked out, but high-net-worth individuals still have avenues to invest.

How HNWIs Can Invest in SpaceX Today

The most direct way to gain exposure to SpaceX is through private secondary markets, where early investors, employees, and venture capital firms trade their shares outside of public exchanges. These transactions take place on specialized private equity platforms, allowing accredited investors to buy into SpaceX long before a potential IPO.

As of January 2025, SpaceX shares were trading at approximately USD 231 per share in private transactions. These opportunities are almost exclusive to institutions and accredited investors, typically the HNWIs who have a net worth exceeding USD 1 million.

And SpaceX isn’t the only high-profile private company capturing investor interest. Across various industries, some of the most exciting investment opportunities lie in pre-IPO giants like OpenAI, Stripe, and Databricks, all of which remain privately held and continue to grow rapidly. These companies, much like SpaceX, have reshaped their respective industries and attracted institutional and high-net-worth investors eager to secure a stake before an eventual public listing.

Private equity investments in these firms are typically accessible through venture capital firms, private equity funds, and pre-IPO trading desks operated by investment banks, which facilitate stock transactions for HNWIs or accredited investors. Large institutions specializing in private market investments often provide exposure to high-growth, pre-IPO companies, allowing HNWIs to invest in disruptive firms before they go public.

Indirect Exposure: Private Equity Funds That Hold SpaceX

If direct investment isn’t an option, HNWIs can still gain exposure to SpaceX and other pre-IPO companies through funds specializing in private market investments. Here are some funds holding SpaceX:

• Destiny Tech100 (DXYZ): A closed-end fund trading on the New York Stock Exchange, with 36.9% of its assets in SpaceX as of Feb 2025. Other holdings include OpenAI, Revolut, and Boom Supersonic.
• ERShares Private-Public Crossover ETF (XOVR): The first ETF to invest in both public and private companies, holding about 10% of its assets in SpaceX, alongside firms like Nvidia and Meta.
• ARK Venture Fund (ARKVX): Focuses on high-growth tech and space companies, with exposure to SpaceX and other private firms such as Anthropic and OpenAI.

These funds allow HNWIs and other retail investors to participate in private equity markets without locking their capital for years, though they still carry some liquidity and transparency challenges.

Conclusion

Private market investments allow high-net-worth individuals to access exclusive growth opportunities in companies like SpaceX, OpenAI, and Stripe. Whether investing directly in private secondary transactions or through specialized funds, investors can capture value from firms that are not available on public exchanges. These strategies offer potential for high returns and diversification, albeit with lower liquidity and higher minimum requirements. Ultimately, a well-structured private market portfolio can be a vital component of a long-term investment strategy for the discerning investor.

While these investments often yield higher returns than traditional public stocks, they come with liquidity risks, as shares in private companies are not as easily tradable as those listed on Nasdaq or the NYSE.