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Billionaires Are Buying Into Psychedelic Companies
Putting aside my skepticism of SpaceX for a moment, there is something worth paying attention to in the latest report about the people who made fortunes backing the company: they are now putting serious money into psychedelics.
And while I can’t necessarily get behind backing Elon Musk’s idea of elephants performing Les Miserables on the moon, or whatever other “lofty” goals are in the SpaceX S-1, I can get behind these follow up investment ideas.
Back in January when absolutely no one was talking about the sector, I officially hung my balls out there and name it my “Best Idea” sector for 2026. I was writing about these stocks years ago ago, first in January 2025, calling the psychedelic names “stocks to watch” for the year. Then, in July 2025, urging patience in these positions.
In April, after the administration’s executive order supporting psychedelic research, I reiterated my bullish stance and argued that we were moving from the phase where these therapies were ignored into the phase where institutions would be forced to engage with them seriously. That transition appears to be underway.
So far, the group has wildly outperformed the market, with the AdvisorShares Psychedelic ETF (PSIL) beating the S&P 500 by about +32% this year. Other individual companies I pointed out at the beginning of this year are beating the market by about +79% and +171%.
That doesn’t mean every name is going to work, or that the easy money hasn’t already been made in some of them. But the broader thesis continues to get validation, and the latest evidence suggests that capital is still finding its way into the space.
The biggest validation came in July, when Eli Lilly agreed to acquire AtaiBeckley for approximately $2.8 billion upfront, with another $1 billion contingent on development and regulatory milestones.
That is not a small biotech taking a flyer on an experimental treatment. That is one of the largest pharmaceutical companies in the world committing billions of dollars to a psychedelic-derived drug pipeline. Lilly’s interest is centered on BPL-003, a treatment being developed for treatment-resistant depression.
https://www.zerohedge.com/markets/billionaires-are-buying-psychedelic-companies