Saudi Arabia is providing a new boost to the US economy by investing billions of dollars in a major company owned by American billionaire Elon Musk.
Regarding the details of the deal, the Saudi Public Investment Fund (PIF) announced the addition of new investment stakes in Elon Musk's SpaceX to its portfolio during the second quarter of 2026.
Saudi Arabia invests $26.3 billion in SpaceX
The Saudi PIF, with assets exceeding $1.2 trillion, has investments in more than 220 companies.
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The fund's latest report (Form 13F) shows that it acquired approximately 154.15 million Class A shares in SpaceX for around $26.38 billion, according to Seeking Alpha.
SpaceX's Historic Launch
SpaceX achieved a historic launch in June of this year, with its shares surging nearly 20% in its initial public offering (IPO), making Elon Musk the world's first billionaire. However, the stock has since fallen by about 9% from its IPO price.
The report showed no other changes in the Public Investment Fund's (PIF) portfolio. The fund continues to hold 1.28 million shares of Claritiv (CTEV), 24.8 million shares of Electronic Arts (EA), 177.1 million shares of Lucid Group (LCID), and 72.8 million shares of Uber Technologies (UBER).
The PIF recently acquired all of Electronic Arts' shares.
Why the Elon Musk Deal Now?
Observers believe that Saudi Arabia's injection of such substantial funds into the US economy, represented by a giant American company owned by Elon Musk, is intended to appease Washington following the trilateral defense agreement between Riyadh, Ankara, and Islamabad.
Riyadh affirms that the United States is a strategic ally, and Washington affirms that Saudi Arabia is an important and indispensable strategic ally in the region for the security of energy supplies and the stability of the entire region.
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