A female SpaceX employee is suing the company for discrimination and retaliation, as the Destiny Tech100 fund, which includes SpaceX as one of its top holdings, has seen a massive surge in value since its debut two weeks ago.
The closed-end fund, which offers investors access to private companies that have yet to go public, has skyrocketed by as much as 818% since its listing on the New York Stock Exchange on March 26. With a market value of $825 million, the fund has attracted significant attention from investors seeking exposure to high-growth tech companies.
The fund, trading under the ticker symbol “DXYZ,” currently holds stakes in 23 companies, with plans to eventually target 100 companies. Among its top holdings are SpaceX, Epic Games, and OpenAI, showcasing a diverse portfolio of innovative companies.
Elon Musk’s SpaceX is the largest position in the fund, with a 34.6% stake worth approximately $18.4 million as of December 31. Other notable holdings include Epic Games at 4%, OpenAI at 3.8%, and Chime at 1.9%.
While the Destiny Tech100 fund provides everyday investors with access to private companies typically reserved for accredited investors, it does come with a management fee of 2.5%. Despite the cost, the fund offers the potential for significant returns, with the opportunity to capitalize on the growth of companies before they go public.
As the fund continues to attract attention and deliver impressive returns, investors are closely monitoring its performance and the ongoing legal battle between SpaceX and its employee.