Home / Business and Economy / Musk's friend Gracias set for $65B SpaceX windfall
Musk's friend Gracias set for $65B SpaceX windfall
12 Jun
Summary
- Antonio Gracias holds a SpaceX stake valued at $65 billion.
- Gracias invested in SpaceX during challenging times, showing loyalty.
- Their decades-long friendship began through early PayPal connections.
Antonio Gracias, a close friend and early investor in Elon Musk's ventures, is positioned to receive an estimated $65 billion from SpaceX's anticipated stock market debut. Gracias, through his firm Valor Equity Partners, holds the second-largest disclosed stake in the company.
His investment journey with SpaceX began in 2008 when the private rocket company faced significant uncertainties. Gracias's continued financial backing and board involvement over more than two decades, even during the 2008 financial crisis when he provided Musk with a $1 million loan, underscore their strong bond.
The partnership has yielded substantial financial returns, with Gracias previously earning between $900 million and $1 billion from Tesla. His association with Musk has reportedly helped build generational wealth, with SpaceX now appearing as the most valuable of Musk's enterprises.
