BlockBeats News, May 16th, According to publicly disclosed information, on the eve of Musk's acquisition of Twitter in 2022, CZ and the Binance platform invested $500 million to participate in the acquisition. Now, through the merger of xAI and X, followed by a merger with SpaceX, CZ's investment has achieved a 10x return.

Based on a rough calculation of its investment as a percentage of external shareholder funds (total external investor funds being $10 billion, with CZ holding a 5% share), if the investment proportion remains unchanged without dilution, the corresponding indirect equity stake in SpaceX would be approximately at the $5 billion level. According to the latest information, X shareholders currently hold around 5% of SpaceX, which is expected to go public in June with a valuation of $2 trillion.

By comparison, Saudi Prince Alwaleed bin Talal has seen returns of over 7x, and the Gerber Kawasaki CEO is expected to see returns of 2.5-3x.

However, this valuation still depends on SpaceX's final IPO pricing and equity dilution structure, and actual returns will be subject to the final listing and distribution plans. In this complex merger path of "Twitter → xAI → SpaceX," early participants have seen a significant revaluation of overall returns, potentially becoming a typical case in the restructuring of technology capital.