The big IPO all of Wall Street is waiting for, and Google is again making headlines.
According to reports published yesterday morning, Elon Musk's SpaceX is in advanced talks for a new stock sale, a deal that could boost the company's valuation to no less than $800 billion!
During the day, Elon Musk denied the IPO rumors but confirmed the company's new market cap. Musk explained that the company does not need cash, but its valuation has indeed risen to about $800 billion.
This is a huge leap that marks its status as a global powerhouse.
But who are the big winners from the jump in market cap?
So of course,
Elon Musk, whose fortune is expected to grow by $350 billion, bringing him rapidly closer to becoming the first trillionaire (in dollars) in history...
But there is another company that benefits significantly from this whole move.
Pay close attention to the following data.
The tech giant, Google, holds a significant stake in SpaceX, and the figures are simply amazing:
Google holds about 7% of Musk's space company.
If SpaceX's valuation climbs to $800 billion, the value of Google's holdings in the company will jump to about $56 billion!
But here's the really interesting part for the longer term:
SpaceX is preparing for an initial public offering (IPO) planned for 2026.
The crazy target?
According to estimates and rumors, the company aims to reach an incredible market cap of $1.2 trillion at the time of the IPO!
The implication for Google in such a case is additional profits of tens of billions of dollars...
We will continue to update!