World’s Largest Sovereign Wealth Fund Bought $1.2 Billion in SpaceX Stock
Norway’s sovereign wealth fund, the most important in the world, revealed on Wednesday that it holds a 0.05% stake in SpaceX price simply over $1.2 billion. The place had by no means been made public earlier than.
The disclosure arrived with a document first-half revenue of 1.75 trillion Norwegian kroner, or roughly $184.9 billion. It additionally locations the fund inside each of Elon Musk’s listed firms.
A Record Half Built on Chips
Norges Bank Investment Management (NBIM), which runs the fund, reported a 9.4% return for the primary six months of 2026. The fund closed in June at 22,683 billion kroner, close to $2.3 trillion.
Equities carried virtually all of it. Stocks returned 13.0% whereas mounted revenue added 0.9%, and shares made up 72.1% of the portfolio on the finish of June.
The path there was uneven. Equity holdings dropped 2.6% in the primary quarter, then rebounded 15.98% in the second as chipmakers rallied.
CEO Nicolai Tangen summed up the motive force as “chips, chips, chips, chips” whereas presenting a chart of prime performers that includes Samsung, SK Hynix’s US listing, TSMC, ASML, Intel, and Nvidia. NBIM’s 1.3% stake in Nvidia alone is price $61.8 billion.
An Awkward Seat in Musk’s Empire
The SpaceX place is small subsequent to that. What makes it fascinating is who owns it.
NBIM voted towards Musk’s $56 billion Tesla compensation award in 2024, then rejected his trillion-dollar bundle on the carmaker’s late 2025 shareholder assembly. The fund cited dilution and key individual danger each occasions.
Musk didn’t take the primary vote nicely, judging by a textual content message later launched underneath Norway’s freedom of data legislation.
“When I ask you for a favor, which I very hardly ever do, and also you decline, then you shouldn’t ask me for one till you’ve accomplished one thing above nothing to make amends. Friends are as associates do,” Reuters reported.
Follow us on X to get the newest information because it occurs
Despite that, the fund now owns roughly 1% of Tesla, price about $15.7 billion, plus the brand new SpaceX slice.
Deputy CEO Trond Grande declined to debate particular person positions when requested how the SpaceX weighting had modified.
“We had been roughly index price in the primary half, and that’s been the case over the summer season as nicely.”
That reply issues. It suggests the fund didn’t decide SpaceX. It owns what the index fingers it, which ties Musk’s governance fights to Norwegian capital indefinitely.
A Volatile Asset for a Cautious Owner
SpaceX has been in a tough maintain since June. The inventory listed at $150 towards a $135 supply value, peaked close to $225, then sank beneath $107 by late July.
It reclaimed its IPO price on Monday and traded above $148 on Wednesday, up round 10% on the day and simply shy of its itemizing value. Other giant holders, together with Ontario Teachers’ SpaceX bet, have ridden the identical swings.
Tangen shrugged on the volatility, noting the fund owns 7,000 firms that transfer in each instructions every day.
That calm sits oddly beside his personal warning a day earlier, when he stated the fund might lose its entire value and referred to as that end result “pretty possible” in present circumstances.
Crypto traders have purpose to look at. The fund holds no Bitcoin straight, however its indirect BTC exposure by fairness stakes climbed 83% between mid-2024 and mid-2025.
A passive big that retains shopping for regardless of the index provides doesn’t select its dangers. It absorbs them, and so do the property that commerce alongside it.
The submit World’s Largest Sovereign Wealth Fund Bought $1.2 Billion in SpaceX Stock appeared first on BeInCrypto.