Elon Musk’s best friend could make more than $100 billion from SpaceX’s IPO. His firm is also owed billions by SpaceX
Antonio Gracias, a close associate of Elon Musk, stands to gain significantly from SpaceX's anticipated IPO, potentially accumulating over $90 billion based on the company's projected valuation. Gracias's firm, Valor Equity Partners, has been a long-term investor in Musk's ventures, including early support for Tesla. Beyond his equity stake, Valor has entered into substantial equipment lease agreements with an xAI subsidiary, now absorbed by SpaceX, totaling nearly $20 billion. These leases, which SpaceX guarantees, have been classified by SpaceX's auditor as a "failed sale leaseback," effectively functioning as loans that add to SpaceX's balance sheet. AI
IMPACT SpaceX's IPO will transfer billions in xAI-related debt to public shareholders, impacting the financial landscape for AI infrastructure financing.