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

While there are some shocking revelations about SpaceX’s S-1 as it prepares to go public, Elon Musk’s complete control of the company probably isn’t one of them.

I would argue that Elon Musk’s outlandish allowance amounts to a billion dollars more The shares he’ll add to his already massive corporate-controlled stash once a million people live on Mars (yes, really) are perhaps most surprising. It’s also somewhat unserious. And by the way, Musk controls those shares and can vote on them now.

But even an additional billion super-voting shares have no significance in establishing this company because Musk is the company’s largest shareholder.

He owns just under 850 million Class A shares, entitled to one vote per share, and approximately 5.6 billion Class B shares, entitled to 10 votes per share. That includes 1 billion shares contingent on 1 million people living on a SpaceX colony on Mars.

Sci-fi circumstances aside, there are a few people who stand to benefit more if SpaceX’s IPO is successful and the stock continues to perform well in the future: 5% shareholders. These are people who own at least 5% of the company.

While the company has yet to announce how many shares it will sell or at what price, the whispered number on the street is that this IPO will raise a whopping $75 billion, with a post-market valuation of $1.7 trillion. With these numbers, a 1% share would be worth $17 billion.

Here’s a rundown of who owns what.

Elon MuskFounder, CEO, CTO, and Chairman of the Board of Directors. Total SpaceX stock holdings: just over 6.42 billion shares.

Antonio GraciasInvestor and board member. Total SpaceX stock holdings: just over 503.4 million shares

Gracias is the founder and CEO of Valor Management, a longtime friend of Musk, a Musk-supporting board member, and a financier. He has been on Tesla’s board of directors from the company’s startup days through the years following its IPO. He was also on the board of Musk’s Solar City company during its controversial sale to Tesla. He has supported and held roles on the board of Musk’s Neuralink companies, including The Boring Company. He was also among the financiers who agreed to fund Musk’s failed bid for a hostile takeover of OpenAI for $97 billion in early 2025.

Luke NosekInvestor and board member. Total SpaceX stock holdings: approx 33 million shares.

Nosek is a co-founder of venture capital firm Gigafund, and a fellow mafia member at PayPal. Nosek joined Peter Thiel at Founders Fund during its early days and led the founders’ first investment in Space Gigafund also backs Musk’s other companies, such as The Boring Company and Neuralink.

Gwen ShotwellCOO of SpaceX. Total SpaceX stock holdings: approx 12.6 million shares.

Shotwell has been with SpaceX since 2002, and COO since 2008. She’s the genius aerospace engineer who runs day-to-day operations. In another era, with a different institutional majority, someone like Shotwell would have been granted co-founder status, and likely would have had a larger stake in the company. However, it is difficult to call it a pittance. For example, in 2025, she received a large tranche of restricted stock units, bringing her total compensation to $85.8 million that year.

Brett JohnsonFinancial Director. Total SpaceX stock holdings: approx 9.6 million shares.

Brett Johnsen has been CFO at SpaceX since 2011. Prior to joining SpaceX, he was a CFO and financier in the semiconductor industry.

Ira EhrenpreisInvestor and board member. Total SpaceX stock holdings: 809,050 shares.

Ehrenpreis is founder and managing member of VC firm DBL Partnershas. He has been a member of SpaceX’s board of directors
Since February 2026 he is also a member of the Board of Directors of Tesla.

Randy GlennInvestor, board member. Total SpaceX stock holdings: 277,800 shares.

Glenn is the co-founder and managing partner of DFJ Growth.

And about 400 other venture capitalists. SpaceX has raised about $30 billion in private capital so far from hundreds of investors, according to Pitchbook estimates. None of the other companies have a large enough stake to report, although, again, even a small percentage of the company should be worth billions when it debuts.

However, the company did share the prices these investors paid for their shares. Series A investors paid $1 per share. Series F investors paid $7.50, and Series N investors paid $270 per share.