Elon Musk’s SpaceX initial public offering (IPO) is the hottest financial topic in the US stock market. The company announced that it would allocate unprecedented IPO shares to retail investors, confirmed CFO Bret Johnsen. Even 1,500 retail investors will be hosted at the investor event on June 11, 2026. However, the biggest winner from the SpaceX stock IPO is none other than Google’s parent company, Alphabet.
Alphabet was among SpaceX’s early investors. They invested $1 billion in the company in 2015, along with Fidelity. The search giant’s stake in SpaceX roughly stood at 7% to 7.5% at a valuation of $12 billion 11 years ago. SpaceX has experienced massive growth since then, and the upcoming stock IPO will make Google’s Alphabet tons of money.
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SpaceX IPO Will Power Google’s Alphabet Stock
Alphabet invested the amount in 2015 and played the long-term game. The power move is now playing out as SpaceX’s IPO is aiming for a valuation of $2 trillion. If the valuation reaches the point, Google’s investment in the company will be worth $140 billion. That’s phenomenal returns in just 11 years, simply by waiting for more than a decade.
This would also be more than the net income that Alphabet generated in 2025, which is $132.17 billion. It represented a major 32.01% increase in net income year-over-year compared to the 2024 annual net income of $100.118 billion. In conclusion, Google is the biggest winner from the SpaceX IPO when the stock hits the market.
The invested amount has the chance to immediately become liquid if Google decides to call it off after the SpaceX IPO stock goes live. Alphabet’s capital expenditure to build its AI infrastructure is $175 billion, which could be paid off by SpaceX returns. The development would be seen as a huge gain. However, it is less likely that Alphabet will liquidate its holdings, as it believes in the power of long-term holdings.