Stocks: Value of Alphabet's stake in SpaceX has increased more than 100-fold
The shares of Google parent Alphabet in Elon Musk's spaceflight company have gained significantly in value over the years. With SpaceX's IPO, this value increased again.
Düsseldorf. An early investment by Alphabet in the space company SpaceX has multiplied more than a hundredfold. A mandatory notification from Thursday reveals that the stake held by the Google parent company was worth around $94 billion at the end of June. In 2015, the group had invested $900 million in Elon Musk's company, according to its own information.
Alphabet is now the largest institutional single shareholder by far, following SpaceX's stock market listing in June. The disclosure of the holdings follows SpaceX's IPO on June 12. Other early investors, such as Fidelity Investments, the Saudi public investment fund, and the holding company of Australian mining magnate Gina Rinehart, Hancock Prospecting, also disclosed their shares.
SpaceX announced separately that company founder Musk himself holds 48.4 percent of the shares. The issue price of the SpaceX share was $135; on Thursday, the security closed at $141.29. However, the valuation of Alphabet's share is based on the higher price of $170.86 at the end of June.
Translated by urgent.news. Machine-written — may contain errors; check the original before relying on it.
