Alphabet becomes SpaceX's top institutional investor after IPO, holding $94.2B
Business
Alphabet just scored big, becoming SpaceX's top institutional investor after the company's IPO.
It held 551.2 million SpaceX shares at the end of the second quarter, worth about $94.2 billion at SpaceX's June 30 share price of $170.86, turning its original $900 million investment from 2015 into a massive win, more than 100 times over.
SpaceX shares up 8.3% since IPO
Other big players include Gigafund Management, Baillie Gifford, BlackRock, and Ontario Teachers's Pension Plan, all holding sizable chunks of shares.
SpaceX's stock launched at $135 on June 12 and climbed to $146.15 by August 12, up 8.3%, but still down from its June 30 close.
Retail investors are now starting to sell off shares after a fresh jolt of buying last week, with $4.5 million sold on August 14.