Norway Wealth Fund Holds $1.2 Billion Stake in SpaceX
The fund’s first disclosed SpaceX position is small compared with its holdings in Nvidia, Apple and other major tech companies, data showed.
- On Tuesday, Norway's $2.3 trillion wealth fund revealed for the first time a 0.05% stake in SpaceX worth $1.22 billion as of June 30 in an updated list of holdings.
- Investing the state's revenues from oil and gas production, the fund owns on average 1.5% of all listed companies globally, making it the world's largest single investor across approximately 7,100 companies.
- The SpaceX stake is modest compared to major technology holdings; the fund holds $62 billion in Nvidia, $52 billion in Apple, and $35 billion in Microsoft.
- Founder Elon Musk controls over 80% of SpaceX voting rights, raising governance concerns regarding independent shareholders' rights, including those of the Norwegian fund.
- The Norwegian sovereign wealth fund will hold a press conference on Wednesday at 0800 GMT to present its half-year results, offering further portfolio transparency.
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The world's largest sovereign wealth fund revealed a $1.2 billion stake in SpaceX. Here's how much it holds of tech's biggest companies.
Norway's sovereign wealth fund held a $1.22 billion stake in SpaceX as of June 30.Justin Sullivan/Getty ImagesNorway's mammoth sovereign wealth fund disclosed a 0.05% stake in SpaceX worth $1.22 billion.It owns more than 1% of each of the world's 10 biggest companies, including $62 billion of Nvidia stock.The fund has previously clashed with Tesla over Elon Musk's mega pay packets.Norway's sovereign wealth fund, the world's largest, is the proud…
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Global Market: Norway sovereign fund reveals stake in Musk’s SpaceX
Norway’s $2.3 trillion sovereign wealth fund held a 0.05% stake in SpaceX worth $1.22 billion as of June 30, marking its first public disclosure of an investment in the private space company. The fund also holds major stakes in Nvidia, Apple, Alphabet and Microsoft.
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