An early bet on SpaceX by Alphabet has grown over 100 times with the Google Parent Company revealing a stake worth about $94 billion at the end of June, up from $900 million investment in 2015 in the Rocket Company, owned by American Businessman, Elon Musk.
Alphabet Inc., an American multinational technology conglomerate holding company, has become as by far the ‌largest single institutional holder of SpaceX after its $86 billion initial public offering in June, according to an analysis of publicly available quarterly filings by Reuters.
Other investors to reveal their holdings after the IPO encompass early backer Fidelity Investments, Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, and Hancock Prospecting, the holding company managed by Australian mining mogul Gina Rinehart.
As SpaceX transformed from a tightly held startup to a publicly traded Company, the filings reveal the scale of positions acquired by the Company’s backers.
Including Alphabet’s, together with separate public disclosures on early investments, they also identify how the value of some early investments in SpaceX has thrived.
Market strategist at Interactive Brokers, Steve Sosnick, said: “It’s very, very difficult to tease out which of these institutions were holding pre-IPO shares”.
Alphabet publicly disclosed it made an investment of $900 million in SpaceX in 2015, a move that provided an uncommon standard for comparing the value of its current holding.
