Saudi Arabia’s sovereign wealth fund disclosed holding approximately $26.3 billion in SpaceX shares, representing 69.5% of its total disclosed US equity holdings. This position makes PIF one of SpaceX’s largest institutional shareholders, trailing major holders like Alphabet. SpaceX completed its landmark IPO in June 2026, raising a record $75 billion at a share price of $135, implying a total valuation near $1.77 trillion. Before the IPO, PIF held less than 1% and discussed deploying up to $5 billion as an anchor investor to protect its existing stake from dilution. The concentration risk is significant, as a 20% decline in SpaceX shares would wipe roughly $5 billion off this position alone.
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