Elon Musk’s historic public offering stands to make him a trillionaire and mint an entire new class of the 1 percent, complete with Peter Thiel, Anthony Scaramucci, and 2 Chainz.
space-exploration-meets-AI mishmash company, is expected to mint around 4,000 new millionaires, multiple new billionaires, and potentially even turn its founder into the world’s first-ever trillionaire.
Under the ticker SPCX, the company plans to sell 555.6 million shares at $135 apiece—bringing its total market cap to $1.77 trillion and making it the largest IPO in history. If all goes according to plan, SpaceX will pocket $74.4 billion from the offering.
In part, that’s because SpaceX, in typical Musk fashion, doesn’t play by traditional rules. In February, Musk folded his AI company, xAI, which makes the anti-liberaland his satellite-internet service, Starlink, into SpaceX, inflating its value. The IPO, whose lead underwriter is Goldman Sachs, now values the company at more than 90 times its 2025 revenue.
Financial-research firm Morningstar, meanwhile, estimated the fair value of SpaceX’s rocket launch and Starship divisions at $611 billion and gave its AI division a provisional value of $180 billion—all in, about $780 billion, nearly a trillion dollars short of the IPO’s implied valuation.expected to follow in the coming months—to list in just 15 days, rather than the traditional one year. The S&P 500, meanwhile, is sticking to its one-year seasoning period.
Already the world’s richest man, Musk is worth more than $700 billion and stands to earn even more from his 42% stake at the $135 list price—though he can’t sell his shares until the company hits various operational milestones, per the IPO filings. Depending on where the stock trades in its first few days, he could become the world’s first trillionaire.once declared, “I would never bet against Elon—in anything. That’s hard rule number one.
” It’s a position that has benefited the PayPal founder handsomely. Thiel’s Founders Fund was among SpaceX’s earliest investors and now owns a stake that could reportedly end up worth more than $60 billion. Luke Nosek, Thiel’s fellow PayPal founder and Founders Fund partner, was likewise one of SpaceX’s first institutional investors. Nosek holds a stake worth roughly $2.5 billion at the IPO price and sits on the company’s board of directors.
He also cofounded Gigafund, a vehicle that has invested in a number of Musk’s ventures, which has poured some $1 billion into SpaceX alone.holds SpaceX shares through 1789 Capital, his “patriotic capitalism” venture firm, which has grown from having $200 million in assets to having $3.5 billion worth since his father returned to the White House. At least 10 Trump administration officials have reported stakes in SpaceX or xAI worth as much as $44 million combined, according to.
Steve Witkoff, the special envoy leading peace negotiations in Ukraine, Gaza, and Iran, indirectly holds between $1 million and $5 million in SpaceX.head of the Small Business Administration, holds xAI shares through a fund under Valor Equity Partners—the firm run by SpaceX board member and DOGE alumnuswho served as President Trump’s White House communications director for all of 11 days in 2017, took to X to announce, “I own SpaceX. I participated in a private round.
I was also an investor in xAI”—before adding that the “cult of personality around Elon Musk gives his companies an excessive premium that is off the charts. ”in March, “I love working for Elon,” her boss since 2002.
“He’s really quite funny. ” Her current stake is worth roughly $1 billion—a figure that could double to $2 billion if the stock reaches the company’s $2 trillion target valuation. Bret Johnsen, chief financial officer, admits that, when he was approached by a recruiter about a role at SpaceX in 2011, his knowledge of space “began and ended with” but he took the job anyway.
Now Johnsen holds a stake currently worth around $695 million, potentially rising to $1.4 billion at a $2 trillion valuation. Antonio Gracias, a SpaceX board member, briefly doubled as the highest-ranking DOGE official. A close personal friend of Musk’s, he’s the founder of Valor Equity Partners—through which he controls one of the largest stakes in the company after Musk himself, with some now estimating it could be worth some $90 billion.
Donald Harrison, Google’s representative on the SpaceX board, is a longtime Alphabet executive who oversees the company’s global strategic partnerships and manages its AI-focused venture fund, Gradient Ventures. Harrison joined the SpaceX board as a representative of Google, an early institutional investor. Last week the two companies announced a cloud computing deal under which Google will pay SpaceX nearly $1 billion a month for AI compute capacity.
Steve Jurvetson, an early Tesla and SpaceX investor and board member, apparently decided not to wait for the IPO windfall: Days before the listing, he reportedly spent $125 million on a home in Tahoe, breaking the local real estate record. Why wait, indeed. Andreessen Horowitz came in later than most, leading a $750 million round in 2023 at a $137 billion valuation—setting it up for a 12x return at the anticipated IPO valuation.
Joshua Kushner, the founder of Thrive Capital—and, for what it’s worth, Jared Kushner’s younger brother—is a known SpaceX investor. Thrive, which also backs OpenAI, Stripe, and Skims, recently raised $10 billion in its largest-ever fund, which was heavily oversubscribed. The firm now manages $50 billion in assets, with SpaceX among its largest positions. Several universities have a portion of their endowments in SpaceX, including the University of North Carolina, the University of Virginia, Washington University in St. Louis, and Stanford.
And lest we forget: rapper 2 Chainz, media personality Angela Yee, andMusk’s lawyers may not have presented a winning argument, Tom Dotan writes, but at the end of this trial, it seems clear that the OpenAI nonprofit is little more than the most well-funded fig leaf of all time. Will anyone care? Despite Judge Yvonne Gonzalez Rogers's best efforts, the existential threat of AI has managed to creep into the courtroom.
A weeklong spree of sales kicked off with the most expensive Jackson Pollock drip painting ever auctioned. The art world is scrambling to figure out who bought it. The AI-powered shopping app named investors like Khloé Kardashian, Sydney Sweeney and. .
. a former For a full week, the Tesla founder and heavy poster has been having a racist temper tantrum over Nolan’s decision to cast Lupita Nyong’o as Helen of Troy. But that’s not the right’s only issue with the upcoming epic. Princess Diana's Nieces Lady Amelia Spencer and Lady Eliza Spencer Shine at the 2026 Cannes Film Festivaldebut a couple weeks ago.
Now, Chris Smith talks to the $91 million coach on the other side of the Ole Miss controversy, about money, fame, and yoga. In 2024, Isak Andic, the billionaire founder of the global Spanish fashion brand, plunged to his death while on a hike with his son Jonathan Andic. Two years later, Jonathan has been arrested on suspicion of killing his father. Here's a timeline of what has transpired thus far.
For the ultrawealthy, boats or jets are yesterday’s toys. Derek C. Blasberg digs into the last bastion of status for a well-moneyed few. The scion of Spanish fashion giant Mango was arrested last week as a suspect in the case investigating his father’s death. He’s now stepped down from the company as the story continues to develop.
A closer look at the fabulous Rhode Island heiress’s unforgettable midcentury soirees—which might meet their match if Swift and Travis Kelce hold their own wedding at her old estate.
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