After 15 Years Holding SpaceX Shares, Early Investor Poised for a Massive Windfall

For nearly 15 years, venture capitalist Justin Fishner-Wolfson has pursued a single strategy with remarkable discipline: acquiring and holding shares of SpaceX. Now, as Elon Musk’s rocket company prepares for what could become one of the largest public offerings in history, that long-term bet is set to deliver an extraordinary financial reward.

Through his investment firm, 137 Ventures, Fishner-Wolfson has spent more than a decade steadily accumulating ownership in SpaceX, often purchasing shares directly from employees and early investors. Unlike many venture capital firms that periodically cash out investments, 137 Ventures largely resisted selling its stake, even as the company’s valuation surged over the years.

That patience appears to be paying off. The firm is estimated to own more than 1% of SpaceX, a position that could be worth roughly $20 billion if the company reaches its anticipated valuation following its public debut.

“This will most likely define my career,” Fishner-Wolfson recently said, reflecting on a journey that began when SpaceX was still considered a highly speculative startup.

His relationship with the company dates back to 2008, when he worked at Founders Fund, the venture capital firm co-founded by investor Peter Thiel. At the time, SpaceX was still struggling to prove that a privately funded rocket company could survive.

One of Fishner-Wolfson’s earliest experiences with the company came when he traveled to Los Angeles to observe a SpaceX launch attempt. The rocket failed just minutes after liftoff, crashing shortly after launch. Despite the setback, SpaceX leadership remained confident that the problem could be solved and another rocket built.

That resilience left a lasting impression.

Founders Fund’s early investment eventually grew into one of Silicon Valley’s most successful venture capital bets, generating returns worth billions of dollars.

Inspired by the company’s potential, Fishner-Wolfson launched his own investment firm, 137 Ventures, in 2011. Named after his grandfather’s seat number on the New York Stock Exchange, the firm invested in several high-profile startups, including Uber. Yet SpaceX remained its central focus.

The company's importance is reflected throughout 137 Ventures’ offices, where a retired SpaceX rocket engine serves as a centerpiece. Over the years, Fishner-Wolfson built close relationships with SpaceX executives while continuing to expand his ownership stake.

There were moments when the investment appeared riskier than ever. One of the biggest tests came when SpaceX began investing heavily in Starlink, its satellite internet network. At the time, some investors questioned whether the costly project would succeed. Today, Starlink has become one of SpaceX’s most important businesses and a major contributor to its growth.

Despite his deep involvement with the company, Fishner-Wolfson has largely avoided the spotlight and rarely comments on Elon Musk’s personal or political controversies. Instead, he has focused on the long-term business prospects of SpaceX, which has evolved into a dominant force in commercial spaceflight, satellite communications, and launch services.