Why I Bought SpaceX (And Why I Don't Care What It's Worth Tomorrow)

I recently bought shares of SpaceX, and interestingly, the first question almost everyone asks isn't why I bought it, but whether I bought it at too high a valuation. My answer is always the same: I genuinely don't care what the market thinks the company is worth today. This wasn't a purchase driven by the hope of making a quick profit, nor was it based on trying to predict where the valuation will be in the next year or two. It was made with a much longer horizon in mind.

I'm fully aware that SpaceX is already one of the most valuable private companies in the world. In fact, for my investment to grow tenfold from here, it would likely require SpaceX to become more valuable than any company has ever been. That sounds almost unbelievable, and statistically, it is an incredibly high hurdle. But investing in truly exceptional businesses has never been about betting on what is most probable. It has always been about identifying what is possible. The world's biggest winners often looked absurdly expensive before they became household legends.

At the same time, I'm under no illusion that this investment is risk-free. Space exploration is difficult, capital-intensive, and filled with uncertainties. There is always a possibility that something goes wrong, the company stumbles, or the investment ultimately goes to zero. I'm perfectly comfortable with that outcome because the amount I invested is money I can afford to lose. My financial future doesn't depend on this one position. I have other investments that continue to compound over time, so this is simply one asymmetric bet within a much broader portfolio.

What attracts me to SpaceX isn't today's valuation but the scale of its ambition. Few companies are attempting to fundamentally change industries the way SpaceX is. Whether it's dramatically lowering the cost of launching payloads into orbit, building a global satellite internet network through Starlink, or pursuing the long-term vision of making humanity a multi-planetary species, the company is operating on a timescale that extends far beyond the next earnings report. Opportunities like this don't come around often, and when they do, they rarely look cheap.

My intention is not to monitor every funding round, speculate about an eventual IPO, or worry about short-term fluctuations in perceived value. In fact, I hope to do the exact opposite. I want to buy, file the investment away mentally, and allow time to do its work. The greatest advantage long-term investors possess is patience, and I intend to make full use of it.

Ultimately, I don't expect this investment to change my own life dramatically. If it succeeds beyond anyone's expectations, the people who will benefit the most may not even be me, they may be my children. That's the entire point. I'm not trying to maximize next year's returns; I'm trying to own a small piece of what could become one of the defining companies of this century and give that investment decades, not years, to mature.

If SpaceX eventually becomes an ordinary company, I'll be content knowing I took a calculated risk that fit my portfolio. But if it achieves even a fraction of its long-term vision, if humanity truly expands beyond Earth and SpaceX becomes one of the companies that made it possible—then this small investment could become one of the most meaningful assets I ever leave behind. That's a future worth waiting for.