Stephanie Zhu/PitchBook
After 24 years as a private company, SpaceX went public on Friday. By the end of its first day, the stock price had reached $160.95, making the company’s market capitalization $2.11 billion, among those of Amazon ($2.5 trillion) and Broadcom ($1.8 trillion).
At SpaceX’s IPO price of $135, Elon Musk$866 billion budget. By the end of trading on Friday, the value of his stake had risen to $1.03 trillion.
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Musk is, by far, the biggest gainer on the list, making him the first billionaire. And as the majority shareholder of SpaceX, Musk will continue to control more than 80% of the voting power.
A refund? Try it hard-the payer
Some of Musk’s friends and besties at SpaceX have also been roped in for big gains. The value of the paper is Valor Equity Partners‘ The stake, whose managing partner, Antonio Gracias, is a close confidant of Musk and helped him develop the original idea for SpaceX, was worth $81 billion at the close of the market on Friday.
To put Valor’s interests in perspective, between the founding of SpaceX and 2021, Valor invested between $400 million and $500 million in the company, according to testimony Gracias provided in 2021. Even without counting the potential investments Valor has made since 2021, the company is sitting on paper at more than 10x its investment. In addition, Gracias also has significant personal assets in SpaceX.
Founders fundthe venture capital company of close Musk ally Peter Thiel, is also planned for large profits: at a price of 135 shares, its stake is worth more than $ 50 billion. The growth of DFJthe late-stage arm of the firm formerly known as Draper Fisher Jurvetsoninvested $800 million in multiple rounds, taking a stake of more than 2%.
Sequoiawhich first invested in 2019, has a stake worth more than $20 billion, even Andreessen Horowitzwhich led SpaceX’s Series K as early as 2023, still holds a stake worth about $10 billion at a share price of $135, per Bloomberg. Investors in Cursorwhich SpaceX is expected to receive later this year, will also benefit from air destruction: Thrive Capitala major supporter of Cursor and a direct investor in SpaceX, is worth an estimated $10 billion.
Here’s how all of SpaceX’s power players stack up:
For many investors, the SpaceX IPO is more than a financial event. Take Gracias: his firm’s stake is currently worth more than the $59.3 billion in assets under management reported by Valor Equity Partners this year.
SpaceX’s level of success means that those who “arrived early” with the company are now on an unprecedented upward trajectory. Luke Nosek, for example, who invested in SpaceX first in the Founders Fund and later in his own fund, The GigaFundtook a personal stake in SpaceX’s IPO at a valuation of $4.45 billion. The stake held by GigaFund, which began funding SpaceX in 2017 and eventually invested more than $1 billion in the company, is probably the most valuable.
