Norway Wealth Fund Weighs SpaceX Investment Ahead of Potential IPO

Norway's $2.2 trillion sovereign wealth fund is evaluating a potential investment in SpaceX ahead of its anticipated mega IPO, just as the fund reported a hefty Q1 loss tied to global market volatility.

Norway's Sovereign Wealth Fund Considers Investing in SpaceX Amid IPO Talks

Norway's Wealth Fund and SpaceX Investment Discussions

OSLO, April 23 (Reuters) - Norway's $2.2 trillion sovereign wealth fund, the world's largest, is assessing whether to invest in SpaceX, the fund's deputy CEO told Reuters on Thursday.

Potential SpaceX IPO and Investment Opportunity

The rocket and satellite company controlled by the world's richest man, Elon Musk, is expected to launch a $1.75 trillion initial public offering, possibly the largest ever, this summer.

Fund's Dialogue with SpaceX

Asked whether the fund had been approached to be part of SpaceX as an investor, Trond Grande said in an interview: we have dialogue with companies, right? So, we also have dialogue with SpaceX."

Assessment and Ongoing Considerations

When asked whether the fund was assessing whether this could be interesting for the fund, Grande said: "That is what we are doing."

He declined to give further details.

Fund's Recent Financial Performance

Grande was speaking after the fund reported on Thursday a first-quarter loss of 636 billion crowns ($68.44 billion) as the war in the Middle East weighed on global stocks.

(Reporting by Gwladys Fouche in Oslo, editing by Terje Solsvik)