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This Indian-origin Musk ally could make $92B from SpaceX IPO
What’s the story
Antonio Gracias, an Indian-origin investor and close associate of Elon Musk, stands to gain a massive windfall from SpaceX’s Upcoming ipo.
According to the company’s S-1 filing, Gracias owns over 500 million shares of SpaceX through entities tied to his private equity firm Valor Equity Partners.
This represents a stake of around 7.3% in SpaceX’s Class A stock ahead of its public listing.
Gracias’s stake could be worth $91.6 billion
If SpaceX’s IPO values the company at about $1.5 trillion, Gracias’s stake could be worth some $91.6 billion.
This would make him one of the most successful venture investors in the world and highlight his long-standing association with Musk’s business empire.
The two have been associated for over two decades since their time in PayPal network after eBay acquired the company.
Gracias has been one of Musk’s closest financial allies
Over the years, Gracias has been one of Musk’s closest financial allies, backing Tesla during its cash-strapped years in the late 2000s and again during the difficult Model 3 production ramp.
He also remained closely involved as Musk expanded into rockets, satellites, AI, and infrastructure.
The S-1 filing reveals deeper financial ties across Musk’s wider business empire with entities associated with xAI entering nearly $20 billion in equipment lease agreements with Valor-linked firms for AI infrastructure and computing systems.
Other early Musk associates holding significant stakes in SpaceX
The S-1 filing shows other early Musk associates holding significant stakes in SpaceX.
Luke Nosek, a PayPal-era colleague and co-founder of Founders Fund, owns nearly 33 million SpaceX shares.
Gwynne Shotwell, SpaceX president and COO, holds around 12.6 million shares worth about $2.3 billion.
Other notable stakeholders include venture capitalist Ira Ehrenpreis with some 1.37 million shares worth roughly $250 million and DFJ Growth founder Randy Glein with around 278,000 shares valued at about $50 million.
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