Key Highlights
- Elon Musk maintains ownership of 6.4 billion SpaceX shares, representing 48.4% of total outstanding stock
- Alphabet’s position consists of 551 million shares valued at approximately $77 billion based on current market prices
- Nvidia’s holdings total 123 million shares, accounting for slightly less than 1% of SpaceX’s outstanding equity
- Major institutional players including Fidelity, BlackRock, Baillie Gifford, and Ontario Teachers’ Pension Plan collectively own over 455 million shares
- A potential merger between Tesla and SpaceX might provide Musk with an accelerated path to his $1 trillion compensation agreement
When SpaceX completed its historic initial public offering on June 12 at a price point of $135 per share, the ownership structure remained largely unknown. Recently filed second-quarter regulatory documents have now pulled back the curtain on the company’s shareholder composition.
These disclosures paint a picture of diverse ownership spanning tech behemoths, major investment firms, and one controlling shareholder.
Musk Maintains Dominant Position
Elon Musk maintains control over 6.4 billion shares of SpaceX. This position represents 48.4% of the company’s total outstanding equity. During the conclusion of Q2, this ownership stake carried a valuation of approximately $1.1 trillion. However, as shares settled around $140 by the previous week’s close, that valuation had contracted to roughly $900 billion.
When factoring in his Tesla equity, Musk’s aggregate net worth hovers around $1.1 trillion. His trillionaire designation remains intact provided SpaceX shares maintain levels above approximately $120, with Tesla’s stock price held constant.
Musk faces restrictions preventing the sale of his SpaceX holdings until June 2027, and indications suggest he has no intention of divesting.
Major Corporations Hold Substantial Positions
Alphabet revealed ownership of 551 million SpaceX shares in its disclosure. When Q2 concluded with shares trading at $171, this holding carried a value near $94 billion. With current trading levels around $140, the position’s worth has adjusted to approximately $77 billion.
Nvidia maintains a position of 123 million shares, falling just below 1% of total outstanding stock. The chipmaker supplies substantial quantities of GPUs to SpaceX. Following SpaceX’s February merger with Musk’s artificial intelligence venture xAI, Nvidia’s investment takes on added strategic significance.
Additional significant stakeholders include Fidelity, BlackRock, Baillie Gifford, and the Ontario Teachers’ Pension Plan. These entities collectively control more than 455 million shares.
The company’s IPO involved the sale of approximately 556 million shares, with an additional 83 million distributed via a broker over-allotment mechanism. This represented a relatively modest portion of the 13.2 billion total shares outstanding.
Lockup Periods Continue to Expire
Following SpaceX’s second-quarter earnings disclosure, approximately 912 million shares entered free trading status. An additional 319 million shares are scheduled to unlock during the current week. Before 2025 concludes, roughly 4.2 billion shares will have completed their lockup periods. This encompasses the majority of shares not controlled by Musk.
During August, SpaceX shares declined below $105, partially driven by market anxiety over potential selling pressure from early-stage investors upon lockup expiration.
Space Exploration Technologies Corp., SPCX
Separately, reporting from the Wall Street Journal highlighted that Musk’s shareholder-ratified $1 trillion Tesla compensation package includes provisions potentially activatable through a Tesla-SpaceX combination. Such a transaction, if structured at sufficient valuation levels, could potentially eliminate critical performance milestones currently separating Musk from that compensation.
During Monday’s premarket session, SpaceX stock was changing hands at $141.63, representing a 1.2% increase, while S&P 500 futures advanced 0.2%.
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