Gavin Baker made one of the boldest early bets on SpaceX back in 2015, investing while the company still faced significant technical hurdles. At the time, SpaceX had suffered high-profile rocket failures and had yet to achieve the breakthrough milestone of landing a booster. Baker was working as a star stock picker at Fidelity Investments when he took this contrarian position on Elon Musk's aerospace venture.

The investment came during a period when many institutional investors viewed private space companies as too risky for meaningful exposure. SpaceX's valuation was considerably lower then, and the path to profitability remained unclear. Baker's decision to invest before the company proved its reusability concept highlights a willingness to back transformative technology ahead of mainstream acceptance.

Today, that early conviction places Baker among the investors positioned for substantial returns as SpaceX's valuation has climbed substantially. The company's success in landing and reusing rockets has fundamentally changed the economics of space launch, validating bets made during those uncertain early years. Baker's dual appearance on billion-dollar gain lists reflects both the magnitude of SpaceX's growth and the rewards available to early institutional backers.