Who will benefit the most from the SpaceX IPO? Especially Elon – he’s a minority from the inside

Where available others amazing revelations in SpaceX’s S-1 plans to become a public company, Elon Musk’s full control of the company may not be one of them.

I can say that the odd arrangement where Elon Musk reaches a billion More information parts to add to its already large cache, managing a company once a million people live on Mars (yes, really), is perhaps the most jaw-dropping. Also fairly unserious. Musk controls and can vote those shares now, by the way.

But even the additional billionaires who have the right to vote also have no influence on the company’s implementation because Musk, by miles, is the company’s largest shareholder.

He owns less than 850 million Class A shares, which carry one vote per share, and approximately 5.6 billion Class B shares, which carry 10 votes per share. This includes billions of units with a million inhabitants in SpaceX’s Mars city.

Sci-fi aside, there are a few people who stand to gain the most if the SpaceX IPO goes well and the stock continues to do well in the future: 5% shareholders. These are the people who own 5% of the company.

Although the company has not yet said how many shares it will sell or at what price, the number whispered on the street is that this IPO will raise a total of 75 billion dollars, accounting for a total of 1.7 trillion dollars. In these figures, even the cost of 1% is worth $17 billion.

Here is a list of who has what.

Elon Muskfounder, CEO, CTO and chairman. Total SpaceX stocks: just gone 6.42 billion shares.

Antonio Thank youAn investor is a board member. Total SpaceX stocks: just gone 503.4 million shares

Gracias is the founder and CEO of Valor Management and a long-time friend of Musk, a Musk board member and investor. He was on Tesla’s board from its early days through several years after its IPO. He was also a board member of Musk’s company Solar City at the time his controversial sale of Tesla. He supported and participated in Musk’s Neuralink projects, including The Boring Company. He was also among the financiers themselves agreed to pay for Musk’s failed investments OpenAI takeover of $97 billion by early 2025.

Luka NosekAn investor is a board member. Total SpaceX stocks: approx 33 million shares.

Nosek is the co-founder of the investment company Gigafund, and a fellow member of the PayPal mafia. Nosek joined Peter Thiel at Founders Fund in its early days and led Founders’ first investment in Space X. He took a board seat, then, and has been on the board ever since. Gigafund also backs Musk’s other companies, The Boring Company and Neuralink.

Gwynne ShotwellSpaceX COO. Total SpaceX stocks: approx 12.6 million shares.

Shotwell has been with SpaceX since 2002, and COO since 2008. He is an astronaut who manages day-to-day operations. In another generation, with more founders, someone like Shotwell would have been given the opportunity to co-found, and perhaps have a larger stake in, the company. However, it is hard to call him underpaid. For example, in 2025, he received a large portion of the restricted stock, bringing his total compensation to $85.8 million that year.

Bret JohnsonCFO. Total SpaceX stocks: approx 9.6 million shares.

Bret Johnsen has been the CFO of SpaceX since 2011. Prior to joining SpaceX he held CFO and finance roles in the semiconductor industry.

Ira EhrenpreisAn investor is a board member. Total SpaceX stock: 809,050 shares.

Ehrenpreis is the founder and managing director of VC firm DBL Partnershas. He sits on the board of SpaceX
from February 2026 and is also on the board of Tesla.

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

Glein is co-founder and managing director of DFJ Growth.

And about 400 other VCs. SpaceX has raised nearly $30 billion in private equity so far from hundreds of investors, according to Pitchbook estimates. None of the others have a large stake to speak of, although, again, even a small part of the company must be multi-billionaire to begin with.

The company, however, shared the prices these investors paid for their shares. Series A investors paid $1 per share. Series F investors paid $7.50 and the last investors, in Series N, paid $270 a share.