Norway wealth fund holds $1.2 bln stake in SpaceX

Reuters reports that Norway’s $2.3 trillion sovereign wealth fund disclosed for the first time that it owned a 0.05% stake in SpaceX worth $1.22 billion as of June 30. The article highlights SpaceX’s sharp post-IPO rally and notes investor concern that its valuation — about 77 times expected revenue — may be stretched. It also raises governance questions because Elon Musk controls over 80% of voting rights while serving as chair, CEO and CTO, limiting independent shareholder influence. The piece mainly signals market scrutiny of SpaceX’s lofty public-market valuation and governance structure rather than a direct catalyst for price action in the broader market. The disclosure also underscores the fund’s large exposure to major U.S. tech names such as Nvidia, Apple, Alphabet and Microsoft.