Who will profit most from SpaceX’s IPO? Largely Elon, and some from his inside circle

As SpaceX’s S-1 prepares to turn into a public firm, some surprising revelations have emerged, however Elon Musk’s full management of the corporate probably will not be amongst them.

A weird clause that might reward Elon Musk with as much as $1 billion, I might argue. extra Maybe essentially the most shocking factor could be if there have been 1,000,000 individuals dwelling on Mars (sure, actually), including inventory to an already outsized company-controlled money pile. It is also fairly disingenuous. By the way, Musk at the moment controls these shares and may vote them.

However the addition of 1 billion super-voting shares is immaterial to the creation of this firm, as Mr. Musk is by far the corporate’s largest shareholder.

He owns slightly below 850 million Class A shares, every with one vote, and practically 5.6 billion Class B shares, every with 10 votes. That features 1 billion shares for the 1 million individuals dwelling in SpaceX’s company metropolis colony on Mars.

Science fiction apart, if SpaceX’s IPO is a hit and the inventory continues to do properly, the few individuals who will profit essentially the most are the 5% shareholders. These individuals personal at the least 5% of the corporate.

The corporate has not but disclosed what number of shares it can promote or at what worth, however rumors are that the IPO will elevate a hefty $75 billion, giving it a post-money valuation of $1.7 trillion. With these numbers, even a 1% stake could be price $17 billion.

Here is an outline of who owns what:

Elon MuskFounder, CEO, CTO, Chairman. Complete variety of shares held in SpaceX: Barely extra 6.42 billion shares.

Antonio Graciasbuyers and administrators. Complete variety of shares held in SpaceX: Barely extra 503.4 million shares

Mr. Gracias is the founder and CEO of Valor Administration, a longtime good friend of Mr. Musk, and a board member and investor in Musk supporters. He was a member of Tesla’s board of administrators from its early days by the years after its IPO. He additionally served on the board of Musk’s solar energy firm, SolarCity. Controversial sale to Tesla. He has supported Musk’s Neuralink, which incorporates The Boring Firm, and has served on its board of administrators. He was additionally one of many financiers who agreed to finance Musk’s failed hostile takeover of OpenAI in early 2025 for $97 billion.

luke nosekbuyers and administrators. Complete variety of shares held in SpaceX: Roughly 33 million shares.

Mr. Nosek is a co-founder of the enterprise capital agency Gigafund and a member of the PayPal Mafia. Nosek joined Peter Thiel within the early days of Founders Fund and led Founders’ first funding in SpaceX. He took the board seat at the moment and has served as a director ever since. Gigafund additionally backs different masks corporations, The Boring Firm and Neuralink.

gwyn shotwellSpaceXCOO. Complete variety of shares held in SpaceX: Roughly 12.6 million shares.

Shotwell has been with SpaceX since 2002 and served as COO since 2008. She is a genius aerospace engineer who runs her day-to-day operations. In one other period, if the bulk founders had been totally different, somebody like Shotwell would have been given co-founder standing and maybe held a bigger stake within the firm. Nevertheless, it’s exhausting to say that her wage is low. For instance, in 2025 she acquired a big tranche of restricted inventory items, bringing her whole compensation that yr to $85.8 million.

Brett JohnsenCFO. Complete variety of shares held in SpaceX: Roughly 9.6 million shares.

Brett Johnsen has been SpaceX’s CFO since 2011. Previous to becoming a member of SpaceX, he served as a CFO and finance govt within the semiconductor trade.

Ira Ehrenpricebuyers and administrators. Complete variety of SpaceX shares held: 809,050 shares.

Ehrenpreis is the founder and managing member of VC agency DBL Companions. He’s on SpaceX’s board of administrators
He has held the place since February 2026 and likewise serves on Tesla’s board of administrators.

randy grainbuyers, administrators. Complete variety of SpaceX shares held: 277,800 shares.

Glein is co-founder and managing accomplice of DFJ Development.

Roughly 400 different VCs. SpaceX has raised about $30 billion in personal funding from lots of of buyers, in accordance with PitchBook estimates. Different corporations do not have giant stakes as reported, however then once more, even a small portion of the corporate must be price billions of {dollars} at debut.

Nevertheless, the corporate shared the value these buyers paid for his or her shares. Collection A buyers paid $1 per share. Collection F buyers paid $7.50 and Collection N finish buyers paid $270 per share.