SpaceX’s shares surged 19% on their June 12 trading debut, closing at $160.95 per share, lifting the value of investments held by Saudi billionaire Prince Alwaleed bin Talal’s firm Kingdom Holding Co. [1]
Kingdom Holding owns 42.4 million SpaceX shares, now worth approximately $6.8 billion to nearly $7 billion after the IPO rise [2, 1]. The gains pushed Kingdom Holding’s market capitalization up about 5% to 56 billion riyals (around S$19.1 billion) on June 14, shortly after the SpaceX listing [2, 1].
The SpaceX IPO raised $75 billion, making it the largest public offering to date [1]. Other prominent investors include Founders Fund, holding around a 3% stake, as well as Andreessen Horowitz and Sequoia Capital with close to 1.5% stakes each [1].
Prince Alwaleed’s net worth climbed to just over $27 billion, a decade high, fueled in part by the surge in SpaceX shares [1]. Saudi Arabia’s Public Investment Fund, which holds a stake in Kingdom Holding, also benefited from the SpaceX stock performance [1].
Kingdom Holding’s stake valuation varies slightly among sources, with some valuing it at just under $7 billion and others at $6.8 billion based on the closing price [2, 1]. The firm’s boosted market cap reflects renewed investor confidence following SpaceX’s strong public debut.
Kingdom Holding and associated investors are expected to review their holdings as SpaceX trades in the coming months, amid growing demand for shares in the space technology company.
