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Market Chatter: Morgan Stanley's Wealth Unit Secures Over $70 Billion in Q2 Following SpaceX Listing

MT Newswires Live
Jul 23

Morgan Stanley's (MS) wealth management unit has gained more than $70 billion in net new assets during Q2, largely fueled by the initial public offering of SpaceX (SPCX), Bloomberg reported Wednesday, citing sources familiar with the matter.

Managing the gains from the SpaceX offering is projected to produce over $100 million in recurring annual revenue for the investment bank, according to the report.

Morgan Stanley and SpaceX did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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