Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
Norway's $2.3 trillion sovereign wealth fund, the world's largest, held a 0.05 per cent stake in SpaceX worth $1.22 billion as of 30 June, the fund said in an updated list of its holdings.
The disclosure offers a rare public look at how one of the world's biggest institutional investors is positioned in Elon Musk's rocket and satellite company following SpaceX's record-breaking public listing earlier this year.
The SpaceX holding remains modest compared with the fund's largest technology positions. The fund held a 1.28 per cent stake in Nvidia worth $62 billion, a 1.24 per cent stake in Apple worth $52 billion, a 1.17 per cent stake in Alphabet worth $50 billion, a 1.27 per cent stake in Microsoft worth $35 billion and a 1.7 per cent stake in Taiwan Semiconductor Manufacturing worth $34 billion, according to fund data.
The fund invests revenues from Norway's oil and gas production and owns an average of 1.5 per cent of all listed companies globally, making it the world's largest single investor. Overall, it is invested in about 7,100 companies worldwide and also holds property and renewable energy assets.
SpaceX shares rallied sharply after the company's record IPO in late June, before pulling back as investors questioned whether a valuation of 77 times expected revenue could be justified.
Musk holds more than 80 per cent of voting rights and combines the roles of chair, chief executive officer and chief technology officer, raising questions about the rights of independent shareholders such as the Norwegian fund.
The Norwegian sovereign wealth fund is due to hold a press conference at 08:00 GMT on Wednesday to present its half-year results.
A drone strike hit a power station in northern Sudan early Sunday (1 November), sparking a fire and triggering loud explosions, witnesses said....
Saudi Aramco's acquisition of a 49 per cent stake in artificial intelligence (AI) company HUMAIN is putting a spotlight on a wider investment q...
Gen Z protests swept 34 German cities on Saturday (31 October) over education, living costs and military service proposals. Violence erupted in Fra...
The U.S. has approved the sale of 500 Patriot PAC-3 missiles to Ukraine in a deal worth an estimated $2.1 billion, but Kyiv could face years of delays before receiving the weapons it urgently needs to defend against intensifying Russian attacks.
Iranian Supreme Leader Ayatollah Khamenei has ordered Iran's armed forces to respond to any threat immediately and without geographical limits in statements posted to social media platforms on Saturday (31 October).
Demonstrators carrying Iranian flags and placards supporting the hijab gathered outside the Azerbaijani Embassy in London.
A Chinese-made AI chip has matched Nvidia’s H200 in tests conducted by its developer, marking a potential breakthrough in China’s efforts to reduce its dependence on foreign technology.
A hacking group linked to North Korea is widely believed to be behind the theft of $6.3 billion from cryptocurrency giant Binance, a cyberattack that experts describe as the largest cryptocurrency heist on record.
Cryptocurrencies are volatile, and their crashes make headlines. But does a slump in digital coins ever spill over into the pounds, dollars and euros in people's bank accounts? The short answer is not directly, but indirectly it can, and regulators are increasingly worried about how.
Russian President Vladimir Putin has praised record trade with Egypt as Moscow seeks to use its economic ties with Cairo to expand its influence across Africa, with a focus on manufacturing, infrastructure and energy.
Kazakhstan could begin building its first nuclear power plant in 2027, President Kassym-Jomart Tokayev said on 28 October, according to Azertac. But as Central Asia steps up its energy ambitions, which countries are investing in nuclear power and which are pursuing alternatives?
Apple's latest iPhone 18 Pro series has outperformed its predecessor in early global sales, even as rising manufacturing costs and weaker demand in some markets put pressure on the smartphone industry, according to Counterpoint Research data released on Tuesday (27 October).
Uzbekistan is moving into a new phase in the development of Islamic finance, with the country’s first Islamic banking licence issued shortly before a regional forum in Samarkand brought together industry players to discuss how the sector can expand across Central Asia.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment