Back in January 2015, Alphabet dropped $900 million on a stake in SpaceX. At the time, SpaceX was valued at roughly $12 billion. That investment bought Alphabet somewhere between 7% and 7.5% of the company.
Fast forward a decade, and that stake is now worth an estimated $100 billion to $111 billion. A roughly 100x return on a single investment.
The math behind the monster return
SpaceX is currently preparing for a much-anticipated IPO targeted for June 2026. The company is expected to go public at a valuation between $1.5 trillion and $1.8 trillion, with shares priced around $135 each.
At those numbers, Alphabet’s stake, even after dilution over multiple funding rounds that brought its ownership down to an estimated 5% to 7.4%, could be worth as much as $122 billion at the higher end of valuation estimates.
