Intesa Sanpaolo invests in SpaceX – Kommersant

Italy’s largest bank, Intesa Sanpaolo, has announced its intention to invest in Elon Musk’s SpaceX. In his statement The bank notes that “the aerospace sector plays a particularly important role in the development of global economies” and therefore decided to “invest in the sector player that has demonstrated the most advanced vision for the near future.” The Italian bank does not disclose the size of the investment.

In justifying the choice of investment object, Intesa Sanpaolo emphasizes that SpaceX is the only private company capable of launching a spacecraft into orbit and returning it back to Earth; that back in 2012, the Space X Dragon was the first among commercial spacecraft to deliver cargo to the International Space Station and cargo from there to Earth; and that SpaceX created the first reusable launch vehicle, the Falcon 9, and other companies have not yet been able to repeat such success.

Intesa Sanpaolo is not the only major investor in Elon Musk’s company. Other investors include Alphabet, Fidelity Investments, sovereign wealth funds of Saudi Arabia and the Emirate of Abu Dhabi (UAE), and many others.

Alena Miklashevskaya