Elon Musk’s rocket and satellite giant is reportedly preparing to file for an initial public offering as soon as this week, in what could rank among the largest share sales in history. And it may potentially deliver a major windfall for early Gulf investors.
SpaceX, which combined with AI startup xAI last month, is planning to submit a confidential filing with the regulators later this week or next week, The Information reported. Advisers working on the deal estimate the company could seek to raise more than $75 billion, the report said.
Separately, Musk is discussing allocating as much as 30% of SpaceX’s IPO to individual investors and handpicked Bank of America to focus on domestic retail distribution, Reuters reported.
Why it matters for Gulf investors:
Several Middle Eastern companies took stakes in SpaceX years ago, and now stand to benefit if the listing proceeds near the expected valuation.
Judan Financial, Abu Dhabi’s newest investment giant, this month acquired a controlling stake in Alpha Wave Global, whose portfolio includes SpaceX. In 2022, Abu Dhabi-listed IHC and Alpha Dhabi Holding each committed $25 million to SpaceX.
- Note: Judan Financial was launched last month and jointly owned by IHC and its subsidiaries Alpha Dhabi Holding, 2PointZero and Sirius International Holding.
Kuwait’s Zain Group invested roughly $50 million in SpaceX about four to five years ago. The telecom operator disclosed around $80 million in unrealized gains on that stake in the fourth quarter.
And then there is another cohort who are riding the SpaceX wave via xAi: Abu Dhabi’s MGX, Qatar Investment Authority, Saudi AI investor Humain and billionaire Prince Al Waleed bin Talal’s Kingdom Holding. They all invested in Musk’s AI startup before its merger with SpaceX.
A successful listing at the top end of expectations would sharply boost the value of these holdings and underscore the Gulf’s growing role as a long-term capital partner to frontier technology companies.
📌 Bottom line: A record-breaking SpaceX debut would not only reshape global equity markets — it could crystallize years of strategic Gulf investment in private US tech, turning relatively modest early bets into outsized gains and strengthening the region’s position in the next phase of the space economy.
