Family offices amass $3.8bn SpaceX bet in boost for Musk

Investment firms for ultra-wealthy individuals from the Americas, Europe and the Middle East have built up billions of dollars of exposure to SpaceX, highlighting their ability to muscle in on sought-after business opportunities.

A family office for Hyatt Hotels heir Nick Pritzker held a $1.8 billion investment at the end of June in the rocket, satellite and artificial intelligence company that Elon Musk founded, weeks after SpaceX’s initial public offering, according to data compiled by Bloomberg from 13F regulatory filings.

Michael Platt’s BlueCrest Capital and Brazil’s Moreira Salles finance dynasty both disclosed stakes exceeding $100 million, while an investment firm for Abu Dhabi ruler Sheikh Mohamed bin Zayed Al Nahyan revealed an almost $65 million holding in the Texas-based company, US filings show.

More than a dozen family offices held a total of at least $3.8 billion in the company officially known as Space Exploration Technologies Corp. through the first half of 2026, filings show. Some of them – including Pritzker’s Tao Capital and the Moreira Salles dynasty behind one of Brazil’s biggest banks – are also investors in Tesla, the other listed part of Musk’s business empire.

The details mark the first time that some of the world’s most influential private investors are revealing their listed holdings in SpaceX. The company began trading on June 12 after forging a reputation as one of the world’s hottest startups, with demand for its $75 billion IPO more than four times the available shares. The stock soared in the first days of trading before shedding more than $1 trillion in market value through early August.

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A lockup expiration this month for shareholders to cut their stakes was supposed to be another hazard for SpaceX’s share price, but turned out to be a blip.

The listing was the largest in history, more than double the size of Saudi Aramco’s $29.4 billion offering almost a decade ago, and vaulted Musk into the world’s first trillionaire.

Family offices, the typically secretive money mangers for the ultra-wealthy, have boomed in number over the past two decades amid surging fortunes across tech, finance and healthcare.

Since they usually serve a single or small client group, the firms can generally be nimbler and take more long-term investments than institutional investors, leading to businesses often courting them for funding. Meantime, their deep pools of capital can help them gain access to coveted transactions like SpaceX’s IPO, though they could have acquired stakes in the company earlier.

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Other family offices revealing SpaceX holdings this month include the firm serving Australia’s richest person, Gina Rinehart, who said in June she made “a significant investment” in Musk’s company, without specifying the size of her stake. Her investment was worth almost $1.4 billion, the biggest single position of her Hancock Prospecting’s portfolio of US-listed stocks.

David Thomson, a scion from one of the world’s biggest media fortunes, held an almost $1 million stake in SpaceX through his private investment firm, filings show. And a family office for the fortune of duty-free shopping tycoon Alan Parker disclosed a smaller stake in the rocket-maker, adding to a roughly $475 000 holding in Tesla.

Money managers overseeing more than $100 million in US equities have to file a 13F form within 45 days of the end of each quarter to list their holdings in stocks that trade on US exchanges. It offers one of the few glimpses into how hedge funds and some large family offices invest.

Other highlights from second-quarter 13F filings include:

Stanley Druckenmiller’s Duquesne Family Office boosted its stake in Taiwan Semiconductor Manufacturing Co., one of the world’s largest chipmakers.
Soros Fund Management, the investment vehicle for billionaire George Soros, cut its holding in e-commerce and cloud computing giant Amazon.com Inc.
David Tepper’s Appaloosa disclosed a new stake worth almost $200 million in US plane maker Boeing Co, as well as a smaller position in SpaceX.

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