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Alphabet profits greatly from SpaceX investment
Reports have shown that Alphabet achieved a profit exceeding 100 times its early investment in SpaceX, with its stake valued at approximately $94.2 billion by the end of June, after investing $900 million in 2015. The surge in SpaceX's share value following its initial public offering (IPO) has reinforced Alphabet's status as one of its largest shareholders, alongside other investors such as Fidelity and the Saudi Public Investment Fund. These results demonstrate the significant increase in the value of early investments in Elon Musk's company, with ownership concentrated among a small number of institutions. The company's shares have risen since the IPO, despite a recent decline.
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