Norwegian Fund Invests $1.22B in SpaceX
The Norwegian Sovereign Wealth Fund revealed that it invested $1.22 billion in SpaceX as of June 30, with a stake of 0.05%. This marks the first such investment, while the fund already holds significant stakes in other global tech giants like Nvidia, Apple, and Microsoft, valued at billions of dollars. Despite the rise in SpaceX's initial public offering (IPO) value in June, stock fluctuations and the company's valuation increasing by 77 times its revenue have raised concerns over corporate governance and shareholders' rights—particularly since Elon Musk owns more than 80% of the voting rights. The fund is scheduled to hold a press conference to present its financial results for the first half of the year.
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