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Alphabet’s SpaceX stake valued at about $94.2 billion after IPO pop
Alphabet received $900 million for a Series F investment in 2015, and its stake is now worth $94.2 billion based on a June 30 closing price of $170.86, making Alphabet a top institutional SpaceX holder.
Alphabet’s 2015 investment in SpaceX has ballooned after the rocket company’s IPO, according to analysis from Yahoo Finance. The article says Google paid $900 million in SpaceX’s Series F round and received 551.2 million shares in return.
As of June 30, the shares were valued at about $94.2 billion, using the IPO-day closing price of $170.86. Yahoo Finance notes the IPO debuted at $135 and that the stock peaked at $170.86 on June 30 before declining from there.
The piece also highlights concentrated ownership among a handful of disclosed holders. It lists Gigafund Management with 171.8 million shares and Fidelity Investments with 302.6 million shares, while Baillie Gifford and BlackRock hold 51.4 million and 51.0 million shares, respectively.
Yahoo Finance adds that Elon Musk holds 48.4% of SpaceX and voting control. The outlet cautions that 13F filings can be outdated and may not capture sales after June 30 or how many shares were owned before the IPO.