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Apr 4, 2026 10:16 PM

SpaceX IPO Puts Sam Bankman Fried/FTX Stake In Musk Company Back In Spotlight: Here's The Missed Profits

SpaceX has confidentially filed for an IPO that could value the Elon Musk-owned company at $1.75 trillion and make him the world's first trillionaire. Other investors in the company could also be in for big days, although one person missing out on profits from the IPO is incarcerated cryptocurrency entrepreneur Sam Bankman-Fried.

FTX Stake in SpaceX

Cryptocurrency trading platform FTX was once valued at $26 billion in March 2022, with Bankman-Fried, its co-founder and former CEO, once worth $26 billion.

The company later declared bankruptcy and Bankman-Fried was sentenced to 25 years in prison for fraud and misappropriation of customer funds, with some customer deposits being used towards other investments.

Among those investments were FTX's Alameda Research investment firm buying Solana (CRYPTO: SOL) and other cryptocurrencies and also taking stakes in companies like Anthropic, Robinhood Markets (NASDAQ:HOOD) and K5 Global, which had investments in SpaceX, Anduril, The Boring Company and other private companies.

Alameda Research invested $700 million alongside K5 Global in 2022, according to a report from Forbes. K5 Global owned stakes in several private companies, including the stakes in Musk-related companies SpaceX and The Boring Company.

During FTX's bankruptcy ...

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