Alphabet Holds $94 Billion Stake as Largest SpaceX Shareholder

Alphabet Inc. is the largest institutional shareholder of Space Exploration Technologies Corp. (SpaceX), holding 551.2 million shares valued at approximately $94.2 billion as of June 30, 2026. The investment, which began in January 2015 as a $900 million commitment alongside Fidelity Investments, represents a more than 100-fold increase in value.

Following SpaceX's $86 billion initial public offering on June 12, Alphabet reported a net income of $112.11 billion for the second quarter, driven largely by a $99 billion gain on equity securities. However, these are primarily non-cash paper gains. Approximately $80 billion of the shares are subject to short-term IPO lockup restrictions, and $14.1 billion remain restricted through the third quarter of 2027. Alphabet may begin selling portions of its stake starting two trading days after SpaceX's first quarterly report on August 4.

While SpaceX maintains a market valuation between $1.4 trillion and $2 trillion, the company remains unprofitable and saw its share value decline 37% during July. Despite this volatility, Alphabet continues to expand its broader investment portfolio, including significant stakes in AI developer Anthropic. CEO Sundar Pichai stated that the company's AI investments are redefining its business operations. Other major institutional holders of SpaceX include Gigafund, Baillie Gifford, BlackRock, and the Ontario Teachers' Pension Plan.