Stocks
Alphabet Unveils Massive Stake in Elon Musk's SpaceX
Alphabet's latest quarterly filing reveals its massive stake in SpaceX. The parent company of Google owns 551,189,500 shares in Elon Musk's space exploration venture, valued at $94.18 billion as of June 30.
This represents a significant increase from Alphabet's initial investment of around $900 million in January 2015, when SpaceX was valued at $12 billion. At the time, Google acquired a roughly 7.5% stake in the company.
The value of Alphabet's investment in SpaceX has increased by over 8,000% since its initial purchase, making it one of the most successful investments made by the company.