Kingdom Holding banks a $6.83 billion SpaceX position

Published: 2026-06-15T11:13:45.000Z

Few Saudi investors are having a better month than Kingdom Holding. The Riyadh listed company chaired by Prince Alwaleed bin Talal has revealed its stake in SpaceX is now worth roughly SAR 25.6 billion, or about $6.83 billion, after Elon Musk's rocket and satellite company hit the stock market.

Few Saudi investors are having a better month than Kingdom Holding. The Riyadh listed investment company chaired by Prince Alwaleed bin Talal has revealed that its stake in SpaceX is now worth roughly SAR 25.6 billion, or about $6.83 billion, after Elon Musk's rocket and satellite company had its long awaited stock market debut. That figure is up sharply from the SAR 16.76 billion at which the holding was carried on Kingdom's books as of march, an unrealized gain of around $2.36 billion in a single corporate filing. For a stock that only weeks ago was being talked about for hitting a ten year high, the SpaceX IPO has supercharged things further. The numbers behind the move tell a tidy story. Kingdom Holding owns 42.4 million Class A shares in SpaceX, representing a 0.34 percent stake, and SpaceX priced its IPO at $135 a share on june 12 before closing its first day of trading at $160.95, a roughly 19 percent jump. Applying that closing price to Kingdom's holding produced the new SAR 25.6 billion mark. The company even outperformed its own earlier estimate, since it had said in early june that a SpaceX valuation of $1.75 trillion would put the stake at about SAR 21.26 billion. The first day rally pushed the math well past that. The market response was immediate. Kingdom Holding shares opened higher and traded up by as much as 5 to 6 percent before easing back, with the company's market capitalization climbing to around 56 billion riyals, about $14.9 billion. That makes the SpaceX investment alone worth close to half of Kingdom's entire market value, an extraordinary concentration that helps explain the recent enthusiasm for the stock. The holding originated from Kingdom's 2011 investment in Twitter and migrated through subsequent transactions involving X and xAI before landing as a direct stake in SpaceX, a long path that has finally produced a public market exit moment. There is a personal layer too. Prince Alwaleed separately owns about 0.29 percent of SpaceX through his private office, on top of Kingdom Holding's stake, and the IPO has helped lift his personal fortune past $27 billion, its highest in roughly a decade. The two holdings together give him meaningful exposure to one of the most closely watched companies in technology. The regional read is hard to overstate. The SpaceX listing also benefits PIF, which owns 16.87 percent of Kingdom Holding, and a wider web of Saudi linked investors, including the PIF backed AI venture HUMAIN, which invested $3 billion in xAI in a deal expected to convert into SpaceX shares. Add in Abu Dhabi's MGX, which holds stakes across Anthropic, OpenAI and xAI, and Qatar's QIA, also invested in Anthropic and xAI, and a clear pattern emerges. Gulf capital is now embedded across the spine of the AI and space economy, and SpaceX's debut is one of its biggest paydays so far.