The formation of galaxies by gradual hierarchical co-assembly of baryons and cold dark matter halos is a fundamental paradigm underpinning modern astrophysics^1,2 and predicts a strong decline in the number of massive galaxies at early cosmic times^3–5. Extremely massive quiescent galaxies (stellar masses of more than 10¹¹ M_⊙) have now been observed as early as 1–2 billion years after the Big Bang^6–13. These galaxies are extremely constraining on theoretical models, as they had formed 300–500 Myr earlier, and only some models can form massive galaxies this early^12,14. Here we report on the spectroscopic observations with the JWST of a massive quiescent galaxy ZF-UDS-7329 at redshift 3.205 ± 0.005. It has eluded deep ground-based spectroscopy⁸, it is significantly redder than is typical and its spectrum reveals features typical of much older stellar populations. Detailed modelling shows that its stellar population formed around 1.5 billion years earlier in time (z ≈ 11) at an epoch when dark matter halos of sufficient hosting mass had not yet assembled in the standard scenario^4,5. This observation may indicate the presence of undetected populations of early galaxies and the possibility of significant gaps in our understanding of early stellar populations, galaxy formation and the nature of dark matter.