Norway's Wealth Fund Weighs Gigantic SpaceX IPO Investment
Norway's $2.2 trillion sovereign wealth fund is considering investing in SpaceX, possibly its largest IPO. The fund is in dialogue with the rocket company owned by Elon Musk, though further details were not disclosed. The fund reported a significant first-quarter loss due to Middle East tensions.
- Country:
- Norway
Norway's colossal $2.2 trillion sovereign wealth fund is contemplating a landmark investment in SpaceX. The fund's deputy CEO, Trond Grande, conveyed this potential move in an interview with Reuters.
SpaceX, managed by Elon Musk, is gearing up for an initial public offering estimated at $1.75 trillion, which may set a record this summer. The fund is actively engaging with various companies, including SpaceX, to explore investment opportunities.
Grande refrained from providing additional insights. His comments followed the fund's disclosure of a noticeable first-quarter loss attributed to geopolitical tensions in the Middle East impacting global markets.
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