Musk's Close Associates to Join Billionaire Ranks with SpaceX Listing
With the IPO of SpaceX, CEO Elon Musk is set to become the world’s first trillionaire, and his close associates who supported him are also expected to join the ranks of billionaires.
According to Bloomberg on May 21 (local time), if SpaceX is valued at 2 trillion dollars (approximately 3,013 trillion won), President Gwynne Shotwell and Chief Financial Officer (CFO) Bret Johnsen would also be elevated to billionaire status.
President Shotwell is one of the original members of SpaceX, joining the company in 2002. She was recruited to handle the initial sales of the Falcon 1 rocket and was promoted to President and Chief Operating Officer (COO) in 2008. Shotwell currently holds 12.4 million shares and has received stock options for an additional 4.7 million shares. Her current stake is estimated at 1 billion dollars. If the company’s valuation reaches 2 trillion dollars after the IPO, her stake would be valued at 2 billion dollars.
After holding financial positions at technology companies including Broadcom and semiconductor firm Mindspeed Technologies, CFO Johnsen joined SpaceX in 2011. His current stake is valued at 695 million dollars. Under the same valuation, his stake is expected to rise to 1.4 billion dollars.
Directors Luke Nosek and Antonio Gracias are also expected to see a significant increase in the value of their stakes following the IPO. Nosek participated as an early venture investor in SpaceX in 2008 and joined the board that same year. His current stake is estimated at 2.5 billion dollars, and under the target company valuation, it could reach 5.3 billion dollars.
Director Antonio Gracias is the founder of investment firm Valor Equity Partners and has been a key supporter of Musk for decades. Gracias’s current stake in SpaceX is estimated at around 5.9 billion dollars, and after the IPO, it is expected to reach 11.5 billion dollars.
Hot Picks Today
"Are You Okay, Dad? Brother?"... 1 in 18 Men Deficient, U.S. Military to Begin Annual Screenings
- "What Did He See?"... Warren Buffett Sells Stocks and Piles Up Cash
- Sim Woo-jung, Former Prosecutor General, Arrest Warrant Dismissed Over 'Yoon Appeal Withdrawal'... "Insufficient Grounds for Evidence Tampering"
- "One Year from Now Will Be Worse Hell"... 9 Out of 10 Japanese Fear 'Runaway Inflation'
- "How Can So Many Fit on One Boat?"...Crowds in Red: What Is This?
With this IPO, CEO Musk’s stake is expected to be valued at about 1.1 trillion dollars. He owns 5.1 billion shares of the company. Even if the company’s valuation only reaches 1.75 trillion dollars, it is analyzed that combining his 292 billion dollar stake in Tesla with his holdings in other companies would likely allow him to enter the trillion-dollar range.
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
