Was BTS's Suga one of SpaceX's early investors?
What's the story
BTS member Suga has reportedly struck gold with his investment in Elon Musk's aerospace company, SpaceX. As per South Korean news outlet Edaily, the K-pop star invested in the company through Link Asset Partners, a South Korean venture capital firm that owns stakes in SpaceX, during its pre-listing stage. The report did not disclose how much he invested but said it was done before 2022.
Valuation surge
Investment could have grown by thousands of percent
SpaceX was valued at around $46 billion in 2020 and about $100 billion in 2021. After its record-setting Nasdaq debut on June 12, the company's valuation reportedly soared to nearly $1.77 trillion. Based on these valuations, an investment made in 2021 would have grown by around 1,670%, while one made in 2020 could have yielded returns of nearly 3,750%, per MoneyControl.
Retail interest
Retail interest in SpaceX IPO
The IPO of SpaceX has drawn unprecedented interest from retail investors. Vanda Research reported that retail traders purchased a net $405 million worth of SpaceX shares in the first five trading days, making it the most heavily traded IPO by retail investors in recent history. Net purchases last week also surpassed total purchases of all Magnificent Seven stocks combined. Despite a slight decrease, retail investors continued to be net buyers on Monday.
Confirmation denial
HYBE yet to confirm details of Suga's investment
When asked about Suga's reported investment, a HYBE official told Edaily, "It is difficult to confirm matters related to an artist's personal affairs." The actual returns on Suga's investment remain unverified as the size and timing of the investment have not been disclosed.