Gulf’s SpaceX investors could be set for windfall following IPO
A potential wartime windfall could be coming to Gulf sovereign wealth funds and billionaires.
SpaceX’s IPO filing last week — potentially the largest ever — didn’t disclose details about regional investors because their stakes fall below reporting thresholds, but even a 1% holding is set to be worth around $15 billion. For investors who have backed Elon Musk for years, the upside is clear.
Saudi billionaire Prince Alwaleed bin Talal is among the most prominent. His investment traces back to a $300 million Twitter stake that ultimately converted into SpaceX shares as Musk reorganized his empire. Alwaleed’s Kingdom Holding valued its SpaceX position at $4.5 billion at the end of March. PIF’s HUMAIN poured $3 billion into xAI in February before it merged with SpaceX; Abu Dhabi’s MGX, the Oman Investment Authority, and the Qatar Investment Authority have also participated in xAI funding rounds.
SpaceX estimates its total addressable market at $28.5 trillion (equivalent to almost a quarter of current global GDP) — most of that is enterprise applications, or providing software and services to corporate customers. Musk has periodically visited the Gulf, meeting senior royals and executives who share his approach of pursuing AI, commercial space opportunities, and technology-led economic transformation. If the SpaceX listing is well received, some of their other AI investments could also benefit.
