Musk discloses 48.4% stake in SpaceX in regulatory filing

Business Recorder reported that a regulatory filing released on Thursday indicates Elon Musk had a 48.4% holding in SpaceX on June 30. Current market prices put the value of that holding above $900 billion. The disclosure underscores how much control Musk retains, as he has held more than 82% of the company's votes since the IPO.

The company listed on June 12 after an offering that raised $85.7 billion, a record, and pushed its market value past $2 trillion. Since then its valuation has eased as investor enthusiasm waned. According to the filing, Musk holds 6.42 billion shares, over which he alone controls voting and disposal rights, including 849.5 million Class A shares held in trusts.

Shares fell close to 33% by late July, then recovered, rising 30% in August so far. The rebound followed the company's first quarterly results as a listed firm, which showed revenue up more than 90%, and the lapse of an initial lockup restriction. Results also showed capital spending rising sharply.