Antonio Gracias, a longtime advisor to Elon Musk and early backer of SpaceX, stands to gain a substantial fortune once the rocket company completes its planned public offering.

Documents from the SpaceX S-1 reveal that Gracias controls more than 500 million shares via entities linked to Valor Equity Partners, the firm he started. These positions account for approximately 7.3 percent of the company's Class A shares before the listing.

At an anticipated $1.5 trillion valuation, the position would equal roughly $91.6 billion, creating one of the largest single venture-investor outcomes on record.

Gracias first connected with Musk more than twenty years ago through overlapping networks in Silicon Valley and at PayPal. He had already launched Valor Equity Partners in Chicago by 1995 and steadily built its presence as Musk moved into new ventures.

During periods of financial strain at Tesla in the late 2000s and again amid the Model 3 ramp, Gracias served as a steady voice of support on the board. His involvement later extended to SpaceX, xAI, and related Musk initiatives spanning rockets, artificial intelligence, and satellite systems.

Valor ranked among the first large institutions to back SpaceX and continued adding to its position throughout the company's extended private phase.

The filing also discloses deeper commercial ties. Subsidiaries of xAI have signed nearly $20 billion in lease contracts with Valor-linked companies for data-center infrastructure and hardware. These arrangements produced hundreds of millions in revenue for the affiliated entities across 2025 and early 2026.

Nosek and Shotwell stand to benefit as well

Ownership remains tightly held among Musk's earliest associates. Luke Nosek, another PayPal veteran, holds nearly 33 million shares directly and through Nosek Capital, a stake valued near $6 billion at the expected IPO price. Nosek also helped establish Founders Fund.

Gwynne Shotwell, SpaceX president and chief operating officer, owns about 12.6 million shares worth roughly $2.3 billion under the same assumptions. She joined as the eleventh employee in 2002 and played a central role in winning NASA contracts while scaling Falcon and Starlink operations.

Additional board members hold smaller yet meaningful blocks. Ira Ehrenpreis controls around 1.37 million shares, equating to about $250 million. Randy Glein of DFJ Growth owns 278,000 shares valued near $50 million.

A filing released Thursday showed plans to raise $75 billion by selling 555,555,555 shares at $135 each, more than doubling the previous record set by Aramco in 2019.