SpaceX added billions to a Saudi prince's fortune in a single day — Bloomberg
Shares in Kingdom Holding, the investment company owned by Saudi Prince Al-Waleed bin Talal, rose significantly in value following the official IPO of the American corporation SpaceX.
This successful financial debut increased the value of the prince’s stake in Elon Musk’s space company to nearly $7 billion.
The management of the Kingdom Holding conglomerate has officially confirmed that it currently holds a significant stake of 42.4 million SpaceX shares.
During the first day of active trading on the global market, the aerospace giant’s shares surged by 19% and reached $160.95 per share.
As a result, the total market value of the Saudi stake jumped to $6.8 billion, representing nearly half of Kingdom Holding’s own market capitalization.
The positive momentum in the U.S. market immediately resonated on the domestic stock exchange in Saudi Arabia.
This was reported by the authoritative international news agency Bloomberg.
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