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Investment firm Brookfield said it owns US$2 billion of pre-IPO shares of Elon Musk’s SpaceX, with half on its parent company’s balance sheet and the rest held by other affiliated entities.
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Musk’s rocket, AI and satellite company has filed confidentially for an IPO that could happen in June. SpaceX is targeting a valuation of more than US$2 trillion with the listing, Bloomberg previously reported.
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Brookfield also committed US$500 million to developer of humanoid robotics Figure, and invested in Hark Labs, according to the firm. Brookfield Corp. discussed the investments in its first-quarter earnings materials released Thursday.
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Brookfield has invested in Musk’s various companies for several years. Its now-defunct Brookfield Growth division provided US$250 million in 2022 to help fund Musk’s buyout of Twitter Inc., the social media platform now known as X.
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The check was the largest ever written by Brookfield Growth at the time and somewhat different from its other bets. The firm shuttered the venture unit last year and shifted some assets and staff to a division known as Pinegrove Capital.
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