Riyadh's Royal Bookshelf Repriced: Kingdom Holding's SpaceX Stake Soars to $6.83B After Nasdaq Debut 🚀

Saudi Arabia's Kingdom Holding Co. said the value of its stake in SpaceX has climbed to about $6.83 billion following the aerospace company's debut on Nasdaq, marking an unrealized gain of roughly $2.36 billion on the holding. In a filing to the Saudi Exchange, the Riyadh-based, publicly traded investment firm controlled by Prince Alwaleed bin Talal disclosed the updated valuation tied to 42.4 million SpaceX Class A shares, a 0.34 percent stake in the company.

According to a report from Arab News, SpaceX completed its initial public offering on June 12 at $135 per share and closed its first trading day at $160.95. The first-day close implied a market capitalization near $2.1 trillion, up from about $1.77 trillion in prior private-market references. Kingdom Holding had previously carried the position at $4.47 billion, or SR16.76 billion, in its financial statements as of March 31. Based on the June 12 closing price, the holding is now worth about $6.83 billion, or SR25.6 billion, well above the SR21.26 billion the company estimated on June 4 had SpaceX reached a $1.75 trillion valuation.

Kingdom Holding traced its SpaceX exposure to a 2011 investment in Twitter, with the position later flowing into SpaceX through a series of transactions involving X and xAI. The filing noted the newly listed shares are subject to a lock-up of up to 180 days from listing, with early-release provisions tied to conditions including SpaceX earnings releases and share-price thresholds.