Investment firm Brookfield Corp. has revealed a substantial US$2 billion stake in SpaceX, Elon Musk's rocket and satellite company, ahead of its anticipated initial public offering (IPO). According to Brookfield's first-quarter earnings materials released Thursday, half of the shares are held on its parent company's balance sheet, while the remainder is owned by other affiliated entities.
SpaceX IPO Details
SpaceX, which also encompasses Musk's artificial intelligence and satellite ventures, has filed confidentially for an IPO that could take place as early as June. Bloomberg previously reported that the company is targeting a valuation exceeding US$2 trillion with the listing.
Additional Investments
Beyond SpaceX, Brookfield committed US$500 million to Figure, a developer of humanoid robotics, and also invested in Hark Labs, as disclosed in the earnings materials. These investments highlight Brookfield's continued interest in cutting-edge technology sectors.
History with Musk's Ventures
Brookfield has a history of investing in Musk's various companies. In 2022, its now-defunct Brookfield Growth division provided US$250 million to help fund Musk's acquisition of Twitter Inc., now known as X. That investment was the largest ever made by Brookfield Growth at the time. The firm later shuttered the venture unit last year, transferring some assets and staff to a division called Pinegrove Capital.
The US$2 billion SpaceX bet underscores Brookfield's confidence in the company's growth prospects as it prepares for a landmark IPO.
