Elon Musk may already be the world’s richest man, but SpaceX’s expected stock market debut could create a fresh group of billionaires around him. As the rocket company prepares for what could be , some of Musk’s closest allies stand to see their fortunes soar.
If SpaceX reaches a valuation of around $2 trillion during its much-awaited IPO, several senior executives and early backers could join the billionaire club or see their wealth multiply dramatically, reported Bloomberg. While Musk would remain far ahead of everyone else, the company’s top insiders are also likely to enjoy massive gains.
SpaceX IPO Could Create New Billionaires
According to reports, SpaceX is expected to go public in June and could be valued at nearly $2 trillion. Such a valuation would make Musk even wealthier, potentially pushing his fortune closer to the trillion-dollar mark.
However, Musk will not be the only winner. A small group of executives, investors and long-time supporters who helped build SpaceX from its early days could also see life-changing wealth.
One of the biggest beneficiaries could be Gwynne Shotwell, SpaceX’s President and Chief Operating Officer.
Shotwell joined the company in 2002, shortly after it was founded. At a time when SpaceX was still a risky idea, she helped build the business and managed sales for the company’s early rockets.
Over the years, she became one of the most important faces of SpaceX, especially while Musk focused on his other companies.
At present, her stake in SpaceX is estimated to be worth around $1 billion. If the company reaches a $2 trillion valuation, that figure could jump to nearly $2 billion.
Shotwell studied mechanical engineering and applied mathematics before working in the aerospace industry. She has often spoken positively about working with Musk, describing him as someone who gives her the freedom to do her job.
Another executive expected to cross the billionaire mark is Bret Johnsen, SpaceX’s Chief Financial Officer.
Johnsen joined the company in 2011 after working in finance roles at major technology firms. Since then, he has played a major role in handling SpaceX’s finances and maintaining relationships with investors.
His current holding in the company is valued at around $695 million. At the expected IPO valuation, his wealth linked to SpaceX could rise to roughly $1.4 billion.
Johnsen also reportedly played an important role in discussions around taking SpaceX public, telling employees that a stock market listing could help raise large amounts of capital if conditions remain favourable.
Luke Nosek, an early supporter of Musk and co-founder of PayPal, is also expected to see a major jump in wealth.
Nosek invested in SpaceX in its early years and joined the company’s board in 2008. His relationship with Musk goes back decades, to their time at PayPal.
At current estimates, his SpaceX stake is worth around $2.5 billion. If the IPO hits the expected valuation, that amount could more than double to about $5.3 billion.
Nosek later co-founded venture capital firm Gigafund, which has backed several Musk-linked ventures, including Neuralink and The Boring Company.
Investor Antonio Gracias may emerge as one of the biggest winners from the IPO.
Gracias, founder of investment firm Valor Equity Partners, has supported Musk’s businesses for years and invested in both Tesla and SpaceX.
His estimated stake in SpaceX is already worth billions. At a $2 trillion valuation, his holdings could rise to roughly $11.5 billion, making him one of the wealthiest people connected to the company.
Apart from investing, Gracias has served on the boards of several Musk-led firms and has remained one of his closest business associates.
Musk Still Set to Dominate the Wealth Race
Even though several SpaceX insiders may become billionaires, their fortunes are expected to remain tiny compared to Musk’s.
The billionaire entrepreneur holds a much larger ownership stake and stronger voting control in SpaceX. That means the company’s IPO could widen the wealth gap between Musk and even his closest allies.
Still, for the executives and early backers who took a chance on SpaceX years ago, the public listing may mark the biggest financial reward of their careers.