Musk owns 48.4% of SpaceX, stake worth over $900B
What's the story
Elon Musk owns a whopping 48.4% of SpaceX, according to a regulatory filing. The stake is worth over $900 billion at current market prices. The filing was made public on Thursday, revealing the extent of Musk's ownership in the aerospace company. Despite owning less than half of the company, he controls more than 82% of its voting power.
Share distribution
Breakdown of Musk's stake in SpaceX
Musk's shares in SpaceX are divided into different classes, trusts, and some stock options.
The company went public on June 12 after an IPO that raised $85.7 billion. However, its valuation has since declined as investor enthusiasm has waned.
Despite this, Musk's stake remains significant due to his control over a majority of the company's voting power.
Market performance
SpaceX shares rebound after hitting low
After falling nearly one-third through July's end, SpaceX shares have rebounded with a 30% jump in August.
The recovery comes after the company released its quarterly results and the first of several lockup restrictions expired.
The positive financial performance has likely contributed to the recent surge in share prices, further highlighting Musk's impressive stake in the company.
Financial performance
SpaceX reports 1st-ever public earnings report
Earlier this month, SpaceX released its first-ever public earnings report, revealing a staggering more than 90% jump in revenue. The company also reported a sharp increase in capital spending.
The strong financial performance is likely to have contributed to the recent surge in share prices and further underscores Musk's impressive stake in the company.