Two Abu Dhabi investment powerhouses have just landed one of the biggest jackpots in global tech: getting in early on Elon Musk’s SpaceX as it soared to a staggering $1 trillion valuation following its merger with his AI venture xAI.
Abu Dhabi-listed International Holding Company and Alpha Dhabi Holding each invested $25 million in SpaceX in 2022, a bet that now looks like a masterstroke as the once-private rocket startup becomes a cornerstone of Musk’s futuristic empire.
IHC’s ties to SpaceX go even further back. In 2020, it acquired a 94% stake in a private equity fund that already had invested in the aerospace firm, giving Abu Dhabi a front-row seat to one of Silicon Valley’s most coveted success stories.
SpaceX Valuation When IHC, Alpha Dhabi Backed It:
- A $1.7 billion funding round in 2022 reportedly valued SpaceX near $127 billion. An SEC filing in June show 74 investors participated in that round.
- Later that year, SpaceX raised $250 million from five investors, reportedly giving it a valuation of roughly $140 billion. An SEC filing in August show 5 investors participated in that round.
IHC, Abu Dhabi’s largest listed company, has steadily built a global investment powerhouse, while Alpha Dhabi, majority-owned by IHC, has become a key driver of its push into high-growth sectors ranging from real estate to advanced technology. It is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, one of Abu Dhabi’s two deputy rulers, the UAE’s national security adviser and brother to its president.
With Musk now weaving together rockets, AI, electric vehicles, and digital platforms into a single futuristic ecosystem, SpaceX sits at the heart of a vision straight out of science fiction.
📌 Why it matters: SpaceX’s $1 trillion valuation highlights the booming demand for private space and AI ventures, and shows Abu Dhabi investors’ ability to back high-impact opportunities.
📌 Bottom line: For Abu Dhabi’s financial giants, the SpaceX windfall is more than a lucrative trade. It’s a headline-making victory proving that bold, early bets on breakthrough ideas can literally reach the stars.
