Scottish Mortgage, a UK investment trust, reports that its stake in SpaceX is worth close to £3 billion ahead of a widely anticipated initial public offering. The Daily Mail and the Financial Times both cite Scottish Mortgage’s own valuation figures, which translate to nearly £3 billion in sterling terms. The Financial Times frames the valuation in US-dollar terms, saying the holding is valued at $1.25 trillion, reflecting the trust’s assessment of SpaceX’s overall market value and the proportion represented by its investment. The outlets describe the IPO as a “blockbuster” event expected to take place later this summer, though neither report provides additional confirmed details on timing beyond that general timeframe. Overall, the coverage aligns on the central point: Scottish Mortgage is assigning a valuation to its SpaceX holding at roughly the same level, indicating the trust expects substantial upside or continues to mark the investment at a high value prior to any listing.