In August 2026, the financial world continues to discuss the unprecedented success of Alphabet — the parent company of Google — in the field of space technologies. According to the latest data revealed after SpaceX's stock market debut, Alphabet's stake in the competitor company has grown more than 100 times over the last decade. The investment made back in 2015 has yielded colossal profits, transforming from a modest $900 million into an asset worth nearly $94 billion.

Scale of success: from startup to giant

According to Reuters, as of the end of June 2026, Alphabet owned 551.2 million shares of SpaceX. Valuing this package at the market rates of that period, its cost reached approximately $94.2 billion. For comparison, in 2015 the company disclosed investments in SpaceX totaling $900 million. Even taking more conservative estimates based on the share price on Thursday (around $77.9 billion), the value of Alphabet's package still exceeds the initial investment by 86.5 times. This makes Alphabet the largest institutional holder of SpaceX shares, overtaking giants such as Fidelity Investments and BlackRock.

Shareholder structure after the IPO

SpaceX's listing on the stock exchange at $135 per share in June 2026 became a turning point for the company's transparency. For the first time, data on the largest owners was disclosed. The five largest holders — Alphabet, Fidelity Investments, Gigafund Management, Baillie Gifford, and BlackRock — collectively own almost three-quarters of SpaceX shares reflected in available reports. Fidelity Investments takes second place with 302.6 million shares, and Gigafund Management is third with 171.8 million. Such concentration of capital in the hands of a few institutional investors underscores the market's confidence in the long-term prospects of the space industry.

Market volatility and investor behavior

After the listing, SpaceX shares demonstrated high volatility. By Thursday, the stock closed at $141.29, which is 4.7% higher than the IPO price, but 17.3% lower than the end-of-June level. However, since August 5, the quotes have risen by 30%. According to Vanda Research, on Friday, private investors sold more SpaceX shares than they bought for the first time after the IPO, realizing papers worth approximately $4.5 million. This may indicate profit-taking by retail traders against the backdrop of rising prices, while major institutional players, such as Alphabet, continue to hold their positions.

Contradictory data

Despite the transparency of reporting, there are nuances that do not allow for a full determination of the structure of early investments and the further plans of major shareholders. Reporting on Form 13F is collected quarterly and published within six weeks after its end, so it reflects the position as of June 30 and does not show subsequent purchases or sales. Steve Sosnick, a market strategist at Interactive Brokers, noted that these documents also make it impossible to understand which investors owned shares before the IPO and under what conditions they will be able to sell them. This creates a certain uncertainty in assessing the real liquidity of Alphabet's share package.