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NEWS: Russian oligarch held stake in Musk’s SpaceX while sanctioned – report

Suleiman Kerimov

By PAUL O’DONOGHUE, Senior Correspondent

A U.S. trust linked to sanctioned Russian senator and billionaire Suleiman Kerimov once held a 1% stake in Elon Musk’s SpaceX, according to Bloomberg.

Citing unnamed sources, the publication said the stake was acquired in 2017 through Delaware-based Heritage Trust, a year before Kerimov was sanctioned by the U.S. Treasury under the Trump administration. The 1% stake would have been worth an estimated $210 million at the time, when SpaceX was valued at $21 billion. Today, a 1% stake in SpaceX would be valued at $3.5 billion as the firm’s valuation has soared to $350 billion.

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