For over 10 years Nissay has had a stake in Musk’s rocket company, whose market value is $2.4tn
Nissay has held a stake in SpaceX, founded by Elon Musk in 2002, through a venture capital fund for more than 10 years, sources told Nikkei. (Nikkei montage/Source photos by Rie Ishii and Getty Images)
TOKYO — Nippon Life Insurance, Japan’s largest life insurer, is sitting on a paper profit of up to $3 billion on its SpaceX stake, sources told Nikkei, underscoring the investment clout of one of the nation’s largest institutional investors.