Norway's largest sovereign wealth fund, worth $2.3 trillion, has announced a $1.22 billion investment in Elon Musk's Space Exploration Technologies Corp (NASDAQ:SPCX, NASDAQ:SPCX).
This marks the first time the fund has publicly disclosed an investment in the company.
The Norwegian fund, primarily sustained by the country's oil and gas revenues, reported a record profit of $184.3 billion for the first half of the year, largely driven by technology stocks.
The fund is recognized as the world's largest single investor, owning an average of 1.5% of all listed companies globally.
The fund disclosed its 0.05% stake in SpaceX, valued at $1.22 billion as of June 30, on Tuesday.
