Alphabet’s early investment in SpaceX has turned into one of the biggest gains in its investment portfolio. The Google parent company invested about $900 million in SpaceX in 2015, and its disclosed stake was worth approximately $94.2 billion at the end of June 2026.
According to Alphabet’s quarterly filing, the company held around 551.2 million SpaceX shares on June 30. Based on SpaceX’s closing price of $170.86 at the end of the second quarter, the stake was valued at about $94.2 billion.
This represents a dramatic increase of more than 100 times compared with Alphabet’s original investment. At SpaceX’s Thursday price of $141.29, Alphabet’s disclosed holding would still be worth around $77.9 billion, or about 86 times its original investment.
Alphabet Becomes SpaceX’s Biggest Institutional Investor
Alphabet has emerged as the largest reported institutional holder of SpaceX following the company’s $86 billion initial public offering in June.
Fidelity Investments was the second-largest reported holder, with about 302.6 million shares. Other major holders included Gigafund Management, Baillie Gifford and BlackRock.
Saudi Arabia’s Public Investment Fund also reported about 154.1 million SpaceX shares, worth approximately $26.3 billion at the end of June.
The five largest reported institutional investors accounted for nearly three-quarters of the reported SpaceX shares, highlighting the concentration of institutional ownership.
SpaceX founder Elon Musk separately disclosed a 48.4% ownership stake in the company.
SpaceX Stock Performance
SpaceX went public on June 12 at $135 per share. Its stock reached $170.86 at the end of June but later declined. It closed at $141.29 on Thursday, remaining above its IPO price but well below its June peak.
Investment strategist Steve Sosnick of Interactive Brokers cautioned that quarterly filings do not reveal whether investors held shares before the IPO or their plans for selling.
Alphabet has not yet provided an official comment on its SpaceX investment.
The huge increase in Alphabet’s SpaceX stake demonstrates how early investments in high-growth private companies can create enormous returns. However, SpaceX’s stock remains volatile, and future lockup expirations could influence trading and investor sentiment.
