Google's stake in SpaceX revealed for the first time! Over 5% equity, IPO could bring $100 billion return

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Alphabet’s Google owns over 5% of SpaceX’s shares. If the rocket company goes public at a valuation of $2 trillion, the value of this early investment will surpass $100 billion.

According to regulatory filings submitted by SpaceX in Alaska this week, Google holds a 6.11% stake in the company (as of the end of 2025). Alaska regulations require firms to disclose shareholders with holdings of 5% or more.

According to Bloomberg's estimates, after SpaceX merged with Musk’s AI and social media company xAI in February this year, Google’s stake was diluted to around 5%. Based on a $2 trillion valuation, this holding would be worth approximately $100 billion.

SpaceX has secretly filed for an IPO and aims to be listed in June this year. The IPO intends to raise up to $75 billion, which could become the largest initial public offering in history.

Google's Shareholding Scale Revealed for the First Time

The significance of this disclosure lies in the fact that the market already knew Google held shares in SpaceX, but the exact proportion had never before been made public.

Per Alaska’s information disclosure requirements, only two entities are required to disclose their holdings in the document: Google, and Musk himself—who holds about 40% of SpaceX.

Based on a pre-dilution 6.11% stake and a $2 trillion valuation, Google's share would be worth about $122 billion; after dilution to roughly 5%, the corresponding value would still be around $100 billion.

SpaceX's Listing May Generate Vast Wealth

Expectations of SpaceX's listing are bringing considerable potential wealth to early investors and the core team.

If the firm’s market value reaches $2 trillion, even holders of 0.05% of the shares could become billionaires overnight. Musk’s approximate 40% stake would sharply elevate his wealth, and the personal assets of longtime executives like SpaceX President Gwynne Shotwell would also see significant appreciation.

SpaceX hopes to exceed the $2 trillion valuation target at the time of the listing. If this is achieved, the IPO will become the largest initial public offering ever seen globally.

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