Alphabet's SpaceX bet grows 100-fold over a decade to $94 billion
Alphabet has emerged as by far the largest single institutional holder of SpaceX following its $86 billion IPO in June, according to a Reuters analysis of quarterly filings made public so far. The filings shed new light on the scale of positions acquired by SpaceX's backers as the company transitioned from a closely held startup to a publicly traded giant.
Alphabet, formerly Google's parent company, has seen its investment in SpaceX surge 100-fold over a decade, according to a recent report. As of June, Alphabet's stake in the rocket company stood at approximately $94 billion, compared to the $900 million it initially invested in 2015, when SpaceX went public. The company has become the largest single institutional holder of SpaceX, accounting for the majority of reported institutional ownership.
Other significant investors include Gigafund Management, Baillie Gifford, BlackRock, and the Ontario Teachers' Pension Plan. Despite recent fluctuations in SpaceX's share price, Alphabet's investment has grown to be worth about 90 times its original value.
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