Beyond Elon Musk: Who else gained from the SpaceX IPO?
What's the story
SpaceX's debut on the stock market has triggered a major wealth creation event in American business history. The company's initial public offering (IPO) has made Elon Musk the world's first trillionaire. Musk's net worth now stands at an estimated $1 trillion after his stake in SpaceX was valued at around $750 billion at the opening price of $150 per share.
Wealth accumulation
Antonio Gracias
Antonio Gracias, a long-time Musk ally and one of SpaceX's first institutional investors, is the second biggest winner from the IPO. Through investment vehicles affiliated with his private equity firm Valor Equity Partners, he owns over 500 million SpaceX shares. At Friday's opening price, that stake was worth over $75 billion (₹71.56 lakh crore), one of the largest fortunes ever made by a venture investor.
Investment returns
In 2015, Google invested around $900 million in SpaceX for a stake of about 7.64%. That investment was worth some $12 billion at the time. By Friday's first hour of trading, it had grown to $132 billion (₹1.26 lakh crore), making it one of the most profitable venture investments ever recorded.
Financial gain
Luke Nosek
Luke Nosek, a PayPal veteran and Musk supporter, owns nearly 33 million Class A shares directly and through his family office, Nosek Capital. At Friday's opening price, that stake was worth some $5 billion (₹4.77 lakh crore). Nosek led the first institutional venture investment into SpaceX while at Founders Fund in 2008 and later deepened his commitment through Gigafund.
Leadership reward
Gwynne Shotwell
Gwynne Shotwell, who joined SpaceX in 2002 and has been its president and COO through some of the company's toughest and the most successful times, also benefited from the IPO. Her stake was worth nearly $2 billion at the IPO's opening price, making her one of America's richest self-made women.
Financial stewardship
Bret Johnsen
Bret Johnsen, who joined SpaceX as CFO in 2011, played a key role in raising billions in private capital for some of the most ambitious engineering projects of the 21st century. He also led the company through its transition to public markets. At Friday's opening price, his stake was worth about $1.4 billion (₹1.34 lakh crore).