This Man Saved Elon Musk And Now He’s Getting $100 Billion, Here’s What Happened
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He didn’t save his life or anything, calm down.
Meet Antonio Gracias, a private investor from Detroit who might just be Elon Musk’s best friend.
You see, when Tesla was on the edge of bankruptcy, it was Gracias that stepped in with a $1 million loan that saved the company and Elon’s ass. Thank you, Gracias.
Ever since then, the two have been inseparable, appearing at mutual weddings and vacationing together on private islands (hopefully not that one).
But as well as real buddies, they’re also business buddies with Gracias on the board of Tesla, SpaceX, SolarCity, The Boring Company, and he even served in the Department of Government Efficiency (or DOGE if you’re being efficient).
But of course, it’s SpaceX that’s the real gold mine, because with over 500 million shares in the rocket company (7.3%), Gracias is in for the motherload of all paydays when SpaceX goes public.
Related: SpaceX IPO Is Expected To Explode On Public Open, Here’s Everything You Need To Know
At a $1.75 trillion (!) valuation, Gracias would be looking at an insane $90 billion bump, and if that becomes a $2 trillion valuation, he’d be cashing out $140 billion.
Whatever happens, Gracias is about to rocketed to the top 50 richest people alive. He’s probably the person set to gain the most from SpaceX’s IPO, other than Elon…
BUT WAIT THERE’S MORE
It’s not just the IPO that Gracias is due to cash in because his equity firm, Valor Equity Partners, has leased vital GPUs to SpaceX, and those leases mean Elon will have to pay out another $20 billion to Gracias.
Man, with friends like these…
Crucially, though, the liability SpaceX has to Valor will transfer to the shareholders once SpaceX goes public. It’s complicated, but it’s being treated as a “failed sale leaseback,” meaning that yeah, SpaceX owes money to one of its own board members.
It’s just one of the many financial knots that’s unraveling as the world gets more transparency on SpaceX’s inner workings.
And when SpaceX finally does go public, we’ll likely see many more.
DISCLAIMER: THIS ARTICLE WAS IN NO WAY SPONSORED BY SPACEX, AND THE FACT I ALSO HAVE PRIVATE EQUITY IN THE COMPANY IS COMPLETELY IRRELEVANT, SO STOP ASKING.
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