Alphabet's SpaceX bet grows 100-fold over a decade to $94 billion

Alphabet's investment in SpaceX has expanded tremendously over a decade, reaching an estimated value of $94 billion by the end of June 2023. This represents a significant growth from the $900 million investment made by Google's parent company in 2015, when SpaceX was still a relatively unknown startup. Alphabet is now the largest single institutional holder of SpaceX, surpassing other notable investors such as Fidelity Investments, Saudi Arabia's sovereign wealth fund, and the Public Investment Fund.

The substantial increase in Alphabet's stake can be attributed to the company's emergence as a publicly traded giant following its $86 billion initial public offering in June.