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Gracias's $90B SpaceX Bet Set to Explode
5 Jun
Summary
- Antonio Gracias may earn $90 billion from his SpaceX investment.
- SpaceX's IPO is set for June 12 at a $1.8 trillion valuation.
- Gracias lent SpaceX $1 million during its 2008 financial struggles.
Private equity investor Antonio Gracias is on the verge of accumulating approximately $90 billion through his substantial stake in Elon Musk's SpaceX. This significant financial gain is largely due to SpaceX's upcoming initial public offering (IPO), slated for June 12. The IPO is expected to value the company at an astonishing $1.8 trillion, potentially making it the largest IPO in stock market history.
Gracias's long-standing relationship with Musk has proven exceptionally lucrative. The two have been friends for over two decades, with Gracias providing crucial support to Musk's ventures. Notably, he extended a personal loan of $1 million to SpaceX in 2008 when the company encountered financial challenges. He has been a member of the SpaceX board since that year.
Valor Equity Partners, founded by Gracias, manages $17.5 billion in assets and holds a 7.2% stake in SpaceX, the second-largest after Musk's own. This investment, alongside others in Musk's companies like Tesla and Starlink, highlights Gracias's strategic alignment with Musk's business empire. His SpaceX holdings alone are estimated to be worth around $90 billion, positioning him among the world's wealthiest individuals.
