Now Reading: Alphabet’s $900 million SpaceX bet now worth $94 billion
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Alphabet’s $900 million SpaceX bet now worth $94 billion
Alphabet’s $900 million investment in SpaceX in 2015 was worth about $94 billion at the end of June, a more than 100-fold return, according to a Reuters analysis of public quarterly filings.…
The Story in Brief
Alphabet’s $900 million investment in SpaceX in 2015 was worth about $94 billion at the end of June, a more than 100-fold return, according to a Reuters analysis of public quarterly filings. The Google parent is now the largest single institutional holder of SpaceX after its $86 billion IPO in June. Alphabet held 551.2 million shares at the quarter’s close, valued at $170.86 each.
Other early backers, including Fidelity Investments, Saudi Arabia’s Public Investment Fund, and Hancock Prospecting, also disclosed large stakes. The five largest reported holders account for nearly three-quarters of reported shares. Elon Musk separately owns a 48.4% stake. SpaceX shares closed at $141.29 on Thursday, up 4.7% from the IPO price but down 17.3% from June 30. Retail investors turned net sellers for the first time since the IPO, offloading a net $4.5 million on Friday, Vanda Research data shows.
The Indian Opinion
Headlines scream 100x returns, but the real story is lock-up ambiguity and stale data. Alphabet’s $94 billion valuation at June 30 is a snapshot, not cash in hand, the stake had already shrunk to $77.9 billion by Thursday. Lazy reporting celebrates paper profits without asking: when can Alphabet sell, and at what price? Watch the first lock-up expiry timeline and the volume of retail selling, which turned net-negative on Friday. Those numbers will tell if this is a triumph or a trap.
Sources (2): livemint.com, economictimes.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
