Who will benefit most from SpaceX IPO? Mostly Elon — and a few from his inner circle

While determination are some shocking revelations successful SpaceX’s S-1 arsenic it gets acceptable to go a nationalist company, Elon Musk’s full power of the institution possibly isn’t 1 of them.

I could reason that the oddball proviso wherever Elon Musk gets up to a cardinal more shares to adhd to his already oversized, company-controlling cache erstwhile a cardinal radical are surviving connected Mars (yes, really), is possibly the astir jaw-dropping. It is besides reasonably unserious. Musk controls and tin ballot those shares now, by the way.

But adjacent a cardinal other super-voting rights shares are immaterial successful this company’s setup due to the fact that Musk is, by miles, the largest shareholder successful the company.

He owns conscionable nether 850 cardinal Class A shares, entitled to 1 ballot per share, and different astir 5.6 cardinal Class B shares, entitled to 10 votes per share. That includes the cardinal shares contingent connected a cardinal radical surviving successful a SpaceX company-town colony connected Mars.

Sci-fi conditions aside, determination are a fistful of radical who basal to payment astir should the SpaceX IPO beryllium a occurrence and the banal proceed to bash good successful the future: the 5% shareholders. These are the radical who clasp astatine slightest 5% of the company.

While the institution has not yet said however galore shares it volition merchantability oregon astatine what price, the susurration fig connected the thoroughfare is that this IPO volition rise a whopping $75 billion, with a post-money valuation of $1.7 trillion. At those numbers, adjacent a 1% involvement is worthy $17 billion.

Here’s the rundown of who owns what.

Elon Musk, founder, CEO, CTO and chairman. Total SpaceX banal holdings: conscionable implicit 6.42 cardinal shares.

Antonio Gracias, capitalist and committee member. Total SpaceX banal holdings: conscionable implicit 503.4 cardinal shares

Gracias is laminitis and CEO and of Valor Management and a long-time Musk friend, pro-Musk committee subordinate and financier. He was connected Tesla’s committee from its startup days done the years aft its IPO. He was besides a committee subordinate of Musk’s star institution Solar City during its arguable merchantability to Tesla. He’s backed and held committee roles for Musk’s Neuralink, including The Boring Company. He was besides among the financiers that agreed to money Musk’s failed attempted hostile takeover of OpenAI for $97 cardinal successful aboriginal 2025.

Luke Nosek, capitalist and committee member. Total SpaceX banal holdings: astir 33 cardinal shares.

Nosek is simply a co-founder of task concern steadfast Gigafund, and a chap PayPal mafia member. Nosek joined Peter Thiel astatine Founders Fund during its aboriginal days and led Founders archetypal concern into Space X. He took a committee seat, then, and has been connected the committee ever since. Gigafund besides backs different Musk companies, The Boring Company and Neuralink.

Gwynne Shotwell, SpaceX COO. Total SpaceX banal holdings: astir 12.6 cardinal shares.

Shotwell has been with SpaceX since 2002, and COO since since 2008. She’s the aerospace technologist genius that runs day-to-day operations. In different age, with antithetic bulk founder, idiosyncratic similar Shotwell would person been granted co-founder status, and apt person a bigger involvement successful the company. However, it’s hard to telephone her underpaid. For instance, successful 2025, she received a ample tranche of restricted banal units, bringing her full compensation to $85.8 cardinal that year.

Bret Johnsen, CFO. Total SpaceX banal holdings: astir 9.6 cardinal shares.

Bret Johnsen has been SpaceX’s CFO since 2011. Prior to SpaceX helium held CFO and financier roles successful the semiconductor industry.

Ira Ehrenpreis, capitalist and committee member. Total SpaceX banal holdings: 809,050 shares.

Glein is co-founder and managing spouse of DFJ Growth.

And astir 400 different VCs. SpaceX has raised astir $30 cardinal successful backstage superior to day from hundreds of investors, according Pitchbook estimates. None of the others person a involvement large capable to beryllium reported, although, again, adjacent a tiny percent of the institution should beryllium worthy billions astatine the debut.

The institution did, however, stock the prices that these investors paid for their shares. Series A investors paid $1 per share. Series F investors paid $7.50 and the last investors, successful Series N, paid $270 a share.