Alphabet’s SpaceX stake is now worth $94.1B, turning a $1B bet into a 100x return

Alphabet Inc. disclosed it holds roughly 551 million Class A shares in Space Exploration Technologies Corp., better known as SpaceX, with the position valued at approximately $94.1 billion as of June 30, 2026. The filing, a routine quarterly 10-Q with the SEC, casually reveals what might be the single greatest corporate investment return of the decade. The math is staggering. Alphabet originally invested between $900 million and $1 billion in SpaceX back in 2015 for an estimated 7.5% stake. That position is now worth nearly 100 times the initial outlay. From private bet to public windfall SpaceX filed its S-1 with the SEC on May 20, 2026, and completed its IPO in June. At the quarter’s close, shares were trading at roughly $170.86 apiece, which is the price used to calculate Alphabet’s $94.1 billion valuation. The disclosure breaks the stake into two buckets with different liquidity timelines. About $80 billion worth of shares are subject to standard post-IPO short-term sale restrictions. The remaining $14.1 billion stays locked until September 2027. No plans to sell were mentioned in the filing. How a search giant ended up owning a piece of the sky Alphabet’s 2015 investment in Sp...