Kingdom Holding reports $2.36B unrealized gain on SpaceX stake after IPO

SpaceX IPO Windfall Lifts Prince Alwaleed’s Kingdom Holding to New Heights

Saudi billionaire Prince Alwaleed bin Talal is among the biggest beneficiaries of SpaceX’s record-shattering market debut, with his investment firm Kingdom Holding Co. disclosing on June 14 that its 42.4 million SpaceX shares are now worth approximately $6.83 billion — an unrealized gain of $2.36 billion over the book value of $4.47 billion.kucoin

The announcement came two days after SpaceX closed its first trading session up 19% at $160.95, having raised $75 billion by selling 555.6 million shares at $135 apiece in what became the largest initial public offering in history. The company listed on the Nasdaq under the ticker SPCX on Friday, June 12, with its market capitalization surpassing $2 trillion.cnbc

A Long-Term Bet Pays Off

Kingdom Holding, listed on the Saudi Exchange, holds a 0.34% direct stake in SpaceX, while Prince Alwaleed separately holds approximately 0.29% through his private office, bringing the combined position to 0.63%. The stakes were built over years — not acquired through the IPO itself. At SpaceX’s current valuation, the combined holdings are worth well over $10 billion.threads

Forbes reported that Prince Alwaleed climbed 14 places to 93rd on its billionaires list following SpaceX’s debut, while his SpaceX shares alone were estimated at $6.1 billion. His net worth had already risen to $24.7 billion by June 1 after Kingdom Holding shares surged nearly 10% on IPO expectations.instagram

Kingdom Holding’s SpaceX-Driven Rally

Kingdom Holding’s stock has been on a tear since SpaceX announced its IPO plans. Shares jumped nearly 10% in late May as investors priced in the coming listing, and the stock reached a 10-year high on the Tadawul. According to stock data, the company’s market capitalization climbed to 53.44 billion Saudi riyals by June 11, up more than 80% from the end of 2025.agbi

The SpaceX position now represents roughly half of Kingdom Holding’s total market value, making it the single most consequential asset in the firm’s portfolio. Bloomberg had previously reported that the prince’s wealth had been on an upward trajectory as SpaceX’s valuation increased ahead of the listing. The original investment traces back to Alwaleed’s decision not to cash out his Twitter shares when Elon Musk took the social media company private in 2022, instead rolling his stake into SpaceX equity.bloomberg