The rockets-to-AI company went public on June 12 after a record-setting IPO that raised $85.7 billion and pushed its market capitalisation above $2 trillion. However, its valuation has since retreated as investor enthusiasm faded.
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Elon Musk held a 48.4% stake in SpaceX (SPCX.O) as of June 30, a regulatory filing showed on Thursday (August 13), valuing his holding at more than $900 billion at current market prices.
The rockets-to-AI company went public on June 12 after a record-setting IPO that raised $85.7 billion and pushed its market capitalisation above $2 trillion. However, its valuation has since retreated as investor enthusiasm faded.
Here are more details:
- Musk owns 6.42 billion shares and exercises sole voting and dispositive power over them, the filing showed. He has held more than 82% of SpaceX’s voting power since the IPO, highlighting the extent of his influence over the company.
- The stake comprises 849.5 million Class A shares held by trusts where Musk is a trustee, 3.92 billion Class B shares held by those trusts, 1.30 billion restricted Class B shares held by Musk, and 350 million Class B shares issuable upon the exercise of stock options.
- After falling nearly 33% through the end of July, SpaceX shares have jumped 30% so far in August following its quarterly results and the expiry of the first of several lock-up restrictions.
- Earlier this month, SpaceX posted its first quarterly earnings since its market debut, reporting a more than 90% jump in revenue and a sharp increase in capital spending.
