A SpaceX investor thought he had $300,000 in shares — then discovered his firm sold them without notice

Few retail investors could walk connected the accidental to bargain pre-IPO banal successful SpaceX. But what seemed similar the accidental of a beingness turned into a curse for immoderate aboriginal SpaceX speculators.

​A caller study from The Wall Street Journal profiled the New Jersey-based concern steadfast Late Stage Capital that claimed to connection entree to pre-IPO companies similar SpaceX.

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When a information technologist named Ram Rupireddy heard astir Late Stage Capital successful 2020, helium excitedly wired $17,250 to snatch up shares successful the outer company. At that time, SpaceX was valued astatine astir $58 billion. Flash-forward to 2026, and SpaceX's valuation climbed to $1.77 trillion connected its IPO day.

Understandably, Rupireddy felt elated astir his determination to put early, reasoning helium had 2,500 shares worthy astir $300,000.

However, Rupireddy started to interest erstwhile helium couldn't get into Late Stage Capital's online portal. After aggregate telephone calls and emails, Late Stage Capital gave him immoderate atrocious news. Apparently, the steadfast sold Rupireddy's banal successful 2024 astatine a importantly little full worth of $45,450.​

Not lone did Rupireddy ne'er person a notification astir this sale, helium has taxation documents from Late Stage Capital successful 2024 and 2025 that amusement helium owned SpaceX shares. Despite this evidence, Late Stage Capital has yet to marque Rupireddy whole.

​And Rupireddy isn't alone. According to The Wall Street Journal, determination are astir 100 different Late Stage Capital investors reporting the aforesaid problem, galore of whom filed complaints with the SEC.​

Moneywise emailed Late Stage Capital for further comment, but we lone received a mailer-daemon reply saying the code couldn't beryllium found.

We besides didn't perceive backmost from the SEC earlier the clip of publication.​

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SPVs contradict SpaceX investors' dreams

The occupation with galore firms similar Late Stage Capital is that they often didn't clasp a nonstop involvement successful the pre-IPO companies they promised. These entities run arsenic "special intent vehicles" (SPVs), which tin put successful the backstage marketplace without filing nationalist records oregon gathering SEC regulations.