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Google Says it Holds $94 Billion in SpaceX Shares After IPO

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Big Tech Google Says it Holds $94 Billion in SpaceX Shares After IPO Alphabet Inc.’s Google said its equity holdings include $94.1 billion in SpaceX shares, after the space-and-AI company’s blockbuster initial public offering. Google was an early investor in SpaceX, which has helped boost profit in recent quarters as its value increased. After an IPO, investors are often subject to restrictions on when they can sell.

Big Tech Google Says it Holds $94 Billion in SpaceX Shares After IPO Alphabet Inc.’s Google said its equity holdings include $94.1 billion in SpaceX shares, after the space-and-AI company’s blockbuster initial public offering. Google was an early investor in SpaceX, which has helped boost profit in recent quarters as its value increased. After an IPO, investors are often subject to restrictions on when they can sell. Google said $80 billion of its shares have “short-term sale restrictions,” while $14.1 billion are long-term restricted through the third quarter of next year, according to a quarterly filing.
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Originally published by Bloomberg Technology Read original →