Loyalty Reward. Who will SpaceX's IPO make billions?

The jump in SpaceX's valuation when it goes public - from the current $1.25 trillion to a target $2 trillion - will bring billions to people in Elon Musk's inner circle as well as early investors in the company, Bloomberg has calculated. They include SpaceX President Gwynne Shotwell, the company's CFO Bret Johnsen, and Musk's longtime partners Antonio Gracias and Luke Nosek.

- Gwynne Shotwell joined SpaceX in 2002: first she was responsible for commercial contracts for Falcon 1 rocket launches, and in 2008 she became the company's president and chief operating officer. Shotwell owns 12.4 million shares of SpaceX stock directly and through two trusts. She has also received 4.7 million SpaceX stock options, but can only exercise a portion of them so far. "I love working for Elon. He really has a good sense of humor. He gives me the freedom and flexibility to do my job," she told Time. Bloomberg estimates her current stake in SpaceX is worth $1 billion, and with the company's $2 trillion capitalization, the price of the stake would rise to $2 billion.

- Bret Johnsen became SpaceX's CFO in 2011 after working at Broadcom and Mindspeed Technologies. It was Johnsen who in December 2025 explained to SpaceX employees the logic of going public: "The point is, if we perform brilliantly and the markets are favorable, a public offering could raise a significant amount of capital." Bloomberg estimates Johnsen's stake at $695 million now and $1.4 billion when SpaceX's value rises to $2 trillion.

- Antonio Gracias, founder of Valor Equity Partners, has been one of the most reliable investors in Musk's companies for decades. Bloomberg calculates that his current stake in SpaceX is worth $5.9 billion and could grow to $11.5 billion after the IPO. The Financial Times gives a broader estimate for Valor funds: Gracias, head of Valor Equity Partners and a member of SpaceX's board of directors, manages through several funds 503 million shares of SpaceX, which could be worth $70 billion or more.

- Luke Nosek is a longtime friend of Musk, co-founder of PayPal and Founders Fund, who became one of the first venture capitalists in SpaceX and joined the company's board of directors in 2008. Nosek's stake, according to the agency's calculations, is worth $2.5 billion now and could grow to $5.3 billion at SpaceX's $2 trillion valuation.

Other SpaceX board members hold smaller but still large stakes: venture capitalist Ira Ehrenpries has 1.37 million shares that could be worth roughly $250 million, and Randy Glain, founder of venture capital firm DFJ Growth, has about 278,000 shares with a valuation of roughly $50 million, Business Insider notes.

But all these stakes are not comparable to Musk's own stake - he owns 5.1 billion shares, or about 41% of SpaceX. Even if the company goes public with a valuation of $1.75 trillion, these shares will be worth about $700 billion, and Musk himself will become the first owner of a trillion-dollar fortune and will probably remain the only one for years to come.

SpaceX will be able to start a series of meetings with investors 15 days after the publication of the pre-IPO prospectus, i.e. June 4. The stock exchange debut is expected on June 12 - SpaceX shares will be traded on Nasdaq under the ticker SPCX. The listing will be the largest in history: SpaceX expects to raise at least $80 billion, which is three times the record of Saudi Aramco seven years ago.

This article was AI-translated and verified by a human editor