NEW YORK - ARK Investment Management LLC has announced that as of October 31, 2024, its ARK Venture Fund provides investors with almost 15% exposure to several of Elon Musk’s private ventures. The fund includes stakes in SpaceX, X.AI, and X Corp., which are not publicly traded and are typically out of reach for most investors.
The ARK Venture Fund's portfolio allocation includes 12.7% in SpaceX, the aerospace manufacturer and space transport services company, 1.5% in X.AI, an artificial intelligence enterprise, and 0.7% in X Corp., details of which have not been disclosed. These companies operate in sectors such as space exploration, AI, social platforms, and renewable energy.
ARK Investment Management suggests that Musk’s recent participation in U.S. policy discussions has created a favorable environment for innovation, which may benefit the growth of his companies. This involvement is seen as a potential advantage for the ARK Venture Fund's investors, as they might experience the impact of Musk's influence on technology and sustainability advancements.
The fund is accessible through the SoFi (NASDAQ:SOFI) app and the Titan wealth platform, offering a unique channel for investors to gain exposure to Musk’s portfolio of private companies.
This move by ARK Investment Management provides an alternative investment opportunity for those looking to diversify their portfolio with private ventures that have been largely inaccessible to the general public. The information regarding the ARK Venture Fund's exposure to Elon Musk's companies is based on a press release statement.
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