Saudi Arabia and Kuwait Invest Big in Spacex's Upcoming IPO

WHO:

Techmeme - Saudi Arabia's Public Investment Fund and the Kuwait Investment Authority are involved in SpaceX's IPO.

Fast Company - Elon Musk is the CEO of SpaceX, formally known as Space Exploration Technologies Corp.

WHAT:

Bloomberg - Gulf wealth funds have put in orders for shares worth several billions of dollars in SpaceX’s initial public offering, indicating the region's ambitions to play a lead role in bankrolling the global artificial intelligence buildout.

Fast Company - SpaceX is steering up to 30% of its initial public offering of stock directly to retail investors, which is higher than the typical 5% to 10% offered in most IPOs.

Fast Company - SpaceX expects retail investors to participate in its IPO through brokerage platforms with a minimum account requirement of $2,000, down from previous minimums of $100,000 or $500,000 for other equity offerings.

Fast Company - SpaceX acknowledges that it "may not achieve profitability in the future."

Fast Company - SpaceX's IPO is expected to trade under the ticker symbol "SPCX."

Techmeme - Saudi Arabia's Public Investment Fund and the Kuwait Investment Authority have each placed share orders worth $1 billion to $5 billion for SpaceX's IPO.

Fast Company - SpaceX is steering up to 30% of its initial public offering of stock directly to retail investors.

Fast Company - SpaceX has built up $29.1 billion in debt as of the end of March and lost $4.9 billion last year and another $4.3 billion through the first three months of 2026.

Fast Company - SpaceX is offering 555.6 million shares of its "Class A" stock in its IPO.

WHERE:

Fast Company - SpaceX plans to trade on the U.S. stock market.

WHEN:

Fast Company - SpaceX's IPO is expected to be the biggest ever.

WHY:

Fast Company - Officials from pension funds in California and New York expressed concerns about the "super voting shares" and the level of control Musk will have over the company, stating it could make him "essentially unfireable without his own consent."

Fast Company - Officials from pension funds for firefighters, teachers, and other workers in California and New York expressed concerns about the "super voting shares" and the level of control Musk will have over the company, stating it could make him "essentially unfireable without his own consent."

Fast Company - SpaceX aims to involve smaller-pocketed, mom-and-pop investors in its IPO to broaden participation.

HOW:

Fast Company - SpaceX's IPO will not offer "Class B" shares, which provide 10 votes per share, meaning Musk could control more than 82% of the voting power following the IPO.

Fast Company - Retail investors can participate in the IPO through brokerage platforms such as Charles Schwab, Fidelity, Robinhood, SoFi, and E-Trade by Morgan Stanley.

Fast Company - SpaceX acknowledges the potential for conflicts of interest between it and Musk, along with other companies he owns, such as Tesla.

(UPDATED June 10, 2026 21:47 UTC)

Gulf wealth funds have placed orders for shares worth several billions of dollars in SpaceX’s initial public offering, signaling a strong interest in supporting the global artificial intelligence sector. In a notable move, SpaceX plans to allocate up to 30% of its IPO directly to retail investors, which is significantly higher than the typical 5% to 10% seen in most offerings. Meanwhile, officials from pension funds in California and New York have raised concerns about the "super voting shares" that would grant Elon Musk substantial control over the company, potentially making him "essentially unfireable without his own consent."

(UPDATED June 10, 2026 16:14 UTC)

SpaceX is gearing up for its initial public offering, expecting retail investors to join in through brokerage platforms with a minimum account requirement of just $2,000, a significant drop from previous thresholds of $100,000 or $500,000. However, the company has acknowledged that it "may not achieve profitability in the future," and its IPO is set to trade under the ticker symbol "SPCX." Concerns have been raised by officials from pension funds in California and New York regarding the "super voting shares," which could give Elon Musk control over more than 82% of the voting power, making him "essentially unfireable without his own consent."

(UPDATED June 10, 2026 14:14 UTC)

SpaceX is gearing up for what is expected to be the biggest initial public offering ever, with plans to offer 555.6 million shares of its "Class A" stock on the U.S. stock market. The company is attracting significant interest from major investors, including Saudi Arabia's Public Investment Fund and the Kuwait Investment Authority, each placing share orders worth between $1 billion and $5 billion, while also aiming to engage retail investors through platforms like Charles Schwab and Robinhood. Despite facing substantial financial challenges, including $29.1 billion in debt and losses of $4.9 billion last year, SpaceX is determined to broaden participation in its IPO by allowing smaller investors to take part.