"Let’s Ride Musk’s Space Plan"... BlackRock Bets 1.5 Trillion Won on SpaceX

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\r\n[Financial News] BlackRock, the world’s largest asset manager, is pushing ahead with a plan to invest up to $10 billion, or about 1.5 trillion won, in SpaceX’s initial public offering (IPO), which is expected next month. As global capital pours into Elon Musk’s space company, the IPO is emerging as one of the year’s biggest market events.
The Information reported on the 16th local time, citing multiple sources, that BlackRock is reviewing a plan to invest between $5 billion and $10 billion in the SpaceX IPO through its $536 billion active fund.
If SpaceX raises as much as $75 billion through the listing, BlackRock’s investment would amount to as much as 13.3% of the total offering. That would be an unusually large stake for a single institutional investor.
SpaceX plans to raise massive funds from the market while keeping tight control over management. Elon Musk is reportedly expected to hold dual-class shares with 10 votes per share. The company appears determined to accept outside capital without weakening its control of the business.
Even so, global investors remain highly interested. Not only BlackRock, but also major firms such as Fidelity Investments, Baillie Gifford, and Franklin Templeton are actively moving to invest in SpaceX. The Information said BlackRock views the IPO as an opportunity to expand its stake, noting that the value of its current SpaceX holdings is around $300 million, smaller than those of rival asset managers.
BlackRock declined to comment when asked. In the market, the SpaceX IPO is being seen as more than a simple listing of a space company. It is also being viewed as a next-generation platform investment spanning artificial intelligence (AI), satellite communications, defense, and space internet. Some say SpaceX has already established itself as a core infrastructure company in the global space industry, built on its Starlink satellite communications business and reusable rocket technology.
Its close cooperation with the U.S. government is also seen as a factor boosting its appeal. SpaceX is carrying out projects with the National Aeronautics and Space Administration (NASA) and the military, and it is closely tied to U.S. space and security strategy.
Musk and BlackRock CEO Larry Fink recently traveled to Beijing as part of the U.S. president’s economic delegation for a visit to China. In the market, the trip is also being interpreted as a symbolic scene linking global capital, technology companies, and geopolitics at once.
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km@fnnews.com Kim Kyung-min Reporter