Shafaqna English– Alphabet’s initial investment in SpaceX has grown exponentially, yielding returns that exceed a hundred times the original outlay. The parent company of Google revealed in its financial disclosures that its holdings in Elon Musk’s aerospace venture were valued at approximately $94 billion as of the close of June — a striking contrast to the $900 million it had originally committed to the rocket manufacturer back in 2015.
Following SpaceX’s blockbuster initial public offering in June, which raised $86 billion, Alphabet has now established itself as the dominant institutional shareholder by a substantial margin. This conclusion is drawn from a Reuters review of the quarterly regulatory filings that have been released to the public thus far.
Source: Aawsat