3 Hrs
Source:
Sky News
SpaceX project boosts Morgan Stanley wealth management
Bloomberg has reported that American investment bank Morgan Stanley attracted over $70 billion in new assets under management during the second quarter of 2026. A significant portion of these assets came from the share offering of SpaceX, Elon Musk's company, which is a major client for the bank. The bank is expected to generate annual revenues exceeding $100 million from managing SpaceX's assets, based on the management fees it applies to the new assets. Morgan Stanley benefits from its relationship with SpaceX, viewing it as a means to attract new clients in the wealth management sector, where the company offers benefits to its employees such as stock compensation and retirement plans. Currently, the bank holds about 70% of the largest 100 startups valued at over a billion dollars, as well as half of the companies listed in the S&P 500, further strengthening its position in the wealth management market.
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