An initial investment of $900 million (equivalent to R$ 4.6 billion), made by Alphabet in SpaceX in 2015, reached a value of $94.2 billion (R$ 483.2 billion) by the end of June. This stake made the Google owner the largest individual institutional shareholder in the space company.
According to Reuters, at the close of the second quarter, Alphabet held 551.2 million shares of SpaceX. Even with a subsequent decline in share price, this holding was still valued at $77.9 billion (R$ 399.9 billion), representing about 86.5 times the initially invested amount.
Alphabet had disclosed the original contribution in 2015. Given the value of this investment, the current stake allows for measurement of how much this bet has grown over a decade.
Details of Appreciation and Other Investors
On June 30th, each SpaceX share cost $170.86 (R$ 876.5). At this price, Alphabet's holding reached $94.2 billion (R$ 483.2 billion). However, the following Thursday saw a drop in price, reducing the stake's value to approximately $77.9 billion (R$ 399.9 billion).
SpaceX's IPO also revealed the presence of other major investors. Among the five largest reported institutional holders, besides Alphabet, were the Public Investment Fund from Saudi Arabia, which declared 154.1 million shares, valued at $26.3 billion (R$ 134.9 billion) at the end of June. Hancock Prospecting, controlled by Australian businesswoman Gina Rinehart, reported owning 8 million shares, valued at $1.4 billion (R$ 7.2 billion).
SpaceX was listed on the Stock Exchange on June 12th, with shares trading at $135 (R$ 692.6). On Thursday, the stocks closed at $141.29 (R$ 725.1), registering an increase of 4.7% over the IPO price, but remaining 17.3% below the June 30th closing.
Steve Sosnick, market strategist at Interactive Brokers, commented to Reuters that it is extremely difficult to determine which institutions held shares before the IPO. Sosnick also noted that SpaceX remains among the most actively traded stocks by the broker's clients, receiving a new boost in purchases the previous week after fears related to the end of the first selling restriction period were not confirmed.
Retail Movement
In the retail segment, the behavior was distinct. Data provided by Vanda Research indicated that individual investors made net sales of $4.5 million (R$ 23.1 million) on Friday. This marked the first session of net sales for this group since the IPO.
Thus, Alphabet's stake serves as a notable example of the appreciation achieved by an investment made in the early stages of SpaceX.


