Brinda Darasha

Saudi-listed Kingdom Holding Co., owned by Prince Alwaleed bin Talal, said it holds a 0.34% stake in SpaceX, with a carrying value of SAR 16.76 billion ($4.47 billion) as of March 31, 2026. The investment is classified as fair value through other comprehensive income (FVOCI).

SpaceX is seeking to raise $75 billion in an IPO on NASDAQ, offering about 555.6 million shares at $135 each, according to a filing with the US Securities and Exchange Commission on Wednesday. This implies a market value of roughly $1.77 trillion.

At that valuation, Kingdom Holding’s stake would be worth about $6 billion, according to Zawya calculations.

In a disclosure on Thursday, Kingdom said the final IPO price and valuation have not yet been confirmed.

At a total valuation of $1.25 trillion, Kingdom Holding’s stake is valued at SAR 16.76 billion ($4.47 billion). If the valuation reaches $1.75 trillion, the stake would rise to about SAR 21.26 billion ($5.67 billion), an increase of roughly SAR 4.5 billion ($1.2 billion) over current book value.

Kingdom Holding told Ashraq Business late last month that its stake, together with that of the prince’s, in SpaceX amounts to 0.63%. Since then the stock price soared, hitting a 10-year high of SAR15.79  on June 2, according to LSEG data.  

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com

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