Google’s long-term bet on SpaceX has grown into a stake worth over $100 billion as Elon Musk’s space company closed its Nasdaq debut at a $2.1 trillion valuation.

Google’s ownership stake stood at approximately 6.11% at the end of 2025, based on the Alaska filing. However, dilution from the February xAI merger may have lowered the tech giant’s effective stake to around 5%, which would value the holding at roughly $105 billion.

The investment traces back to 2015, when Google and Fidelity invested $1 billion in exchange for a 10% ownership stake.

Google’s windfall from SpaceX may not be its biggest success story for long. The company also holds an estimated 14% stake in Anthropic, which confidentially submitted a draft registration statement on Form S-1 to the US Securities and Exchange Commission for a proposed initial public offering and is widely expected to make its market debut later this year.

Other investors are also seeing massive returns on their early SpaceX bets, including Founders Fund, Valor Equity Partners, DFJ Growth, Sequoia Capital, and Andreessen Horowitz.

Peter Thiel-led venture firm invested approximately $600 million in the company and now owns about 3% of the aerospace giant. That stake is worth more than $60 billion.