3 weeks ago
Investors' SpaceX Shares Vanished Before They Could Cash In
A person named Rupireddy wanted to invest in companies he had missed out on.
Recently, some big companies had gone public, and he felt he had missed his chance.
So he sent a message to a man named Barish in November 2020.
He asked about buying stakes in Impossible Foods, SoFi, and SpaceX.
Barish said all three were available and sent paperwork to sign.
Rupireddy sent his money before the end of the year.
Part of the money, $17,250, went into a fund that held shares of SpaceX, Elon Musk's rocket company.
At that time, SpaceX was estimated to be worth around $58 billion.
But the SpaceX shares later vanished before Rupireddy and other investors could cash them in.
The Wall Street Journal reviewed documents about what happened.
In November 2020, an investor named Rupireddy messaged Barish about buying stakes in Impossible Foods, SoFi, and SpaceX after missing out on recent IPOs.
Barish said all three investments were available and sent over paperwork for Rupireddy to sign.
Rupireddy wired money before the end of the year, including $17,250 to take part in a fund that held shares of Elon Musk's SpaceX.
At the time, Rupireddy estimated SpaceX was valued at $58 billion.
According to documents reviewed by The Wall Street Journal, the investors' SpaceX shares vanished before they could cash in.
- Who
- Investors including Rupireddy, who bought SpaceX shares through Barish; the shares were in Elon Musk's SpaceX.
- What
- SpaceX shares purchased through a fund vanished before the investors could cash them in.
- Where
- Not specified in the articles.
- When
- November 2020, when Rupireddy first messaged Barish; money was wired before the end of 2020.
- Why
- Rupireddy wanted to participate in big investment opportunities he had recently missed out on, including IPOs.
Key facts
- SpaceX fund investment
- $17,250
- Other target companies
- Impossible Foods, SoFi
- SpaceX valuation estimate
- $58 billion
- First contact
- November 2020
- Money wired
- Before the end of 2020
- Documents reviewed by
- The Wall Street Journal
