Elon Musk discloses 48.4% stake in SpaceX in regulatory filing

Elon Musk held a 48.4% stake ​in SpaceX as of ​June 30, a regulatory filing showed ​on Thursday, valuing his holding at more than $900 billion at current market prices.

The rockets-to-AI company went public on June 12 ‌after a record-setting ⁠IPO ⁠thatraised $85.7 billion and vaulted the company's market cap past $2 trillion. ​However, its valuation has since retreated as enthusiasm faded.

Here are ​more details:


* Musk owns 6.42 billion shares, and exercises sole voting and dispositive power over them, ​the filing showed. He has ⁠held more than ‌82% of SpaceX's voting power ​since ​the IPO, emphasizing the extent of his ⁠sway over the company.

* The stake comprises ​849.5 million Class A shares held ​by trusts where Musk is a trustee, 3.92 billion Class B shares held by those trusts, 1.30 billion restricted Class B shares held by Musk and 350 million Class B shares issuable ‌upon exercise of stock options.

* After falling nearly 33% through the end of ​July, SpaceX shares ​have jumped ⁠30% so far in August following its quarterly results and the expiry of the first of several lockup restrictions.

* ​Earlier this month, SpaceX posted its first quarterly earnings since its market debut, reporting a more than 90% jump in revenue and an exponential increase in capital spending. (Reporting by Anzar Mehraj in Bengaluru; Editing by Diti Pujara)