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FIRST READING: Ontario teachers make billions from SpaceX IPO

The demographic, not known for agreeing with Elon Musk, have enriched their pension fund's assets by more than $10 billion

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FIRST READING: Ontario teachers make billions from SpaceX IPO Back to video

In one of the more notable ironies of SpaceX’s multi-trillion dollar initial public offering, one of Canada’s greatest beneficiaries of the launch is a demographic ideologically opposed to a lot of what CEO Elon Musk stands for.

A major early investor in SpaceX was the Ontario Teacher’s Pension Plan (OTPP). In 2019, the plan announced it had purchased a stake in the company via its new Teachers’ Innovation Platform, an initiative to make equity investments in promising tech firms.

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“SpaceX is the world’s leading private space launch provider, and we are excited to work with the company in the next phase of its growth as it rolls out its Starlink satellite network,” said OTPP representative Olivia Steedman in a statement at the time.

The size of the stake has........

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