Prince Alwaleed bin Talal

SpaceX's first-day stock surge increased the value of Saudi billionaire Prince Alwaleed bin Talal's investment firm, Kingdom Holding Co., by nearly $7 billion. The firm holds 42.4 million SpaceX shares, and the stock's 19% rise boosted Alwaleed's net worth to over $27 billion. Saudi Arabia's Public Investment Fund and regional investors like Abu Dhabi's MGX and Qatar have also invested in AI and space ventures, including SpaceX and xAI.

Prince Alwaleed Bin Talal, founder of Kingdom Holding Co., saw his fortune rise due to SpaceX's surge, following his detention in a 2018 Saudi corruption crackdown. The article notes his release after 83 days of detention at the Ritz-Carlton hotel in Riyadh.

SpaceX's upcoming $1.77 trillion IPO is expected to benefit Gulf investors, including Saudi Arabia's Prince Alwaleed bin Talal and Gulf sovereign wealth funds, which hold stakes in the company. The IPO aligns with the Gulf's strategic goals to expand digital infrastructure, driven by vulnerabilities in the Strait of Hormuz and a shift toward space-based technologies for energy and communication.

Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding stock has underperformed since its 2007 IPO, despite his investments in companies like Apple and SpaceX. A surge in shares followed speculation about SpaceX's potential $1.75 trillion IPO valuation, but the stock dropped after Kingdom Holding clarified its stake's value. The company's diversified portfolio, including Citigroup and Four Seasons, has failed to deliver consistent returns, and its stock remains below net asset value.

Gulf sovereign wealth funds and billionaires, including Saudi billionaire Prince Alwaleed bin Talal, stand to gain significantly from SpaceX's potential IPO. Investments via xAI and direct stakes in SpaceX, valued at up to $4.5 billion for some, could yield massive returns as the company targets a $28.5 trillion market. Regional entities like PIF's HUMAIN, Abu Dhabi's MGX, and Qatar Investment Authority have also backed Musk's ventures.