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A Guide to the Biggest Winners From the SpaceX IPO
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By Walden Siew | WSJ Leadership Institute
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SpaceX executives and employees at the Nasdaq opening bell on Friday. SHURAN HUANG FOR WSJ
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Elon Musk isn’t the only big winner from the SpaceX IPO. From longtime executives to short-term employees, college endowments and venture-capital firms, a lot of people stand to benefit from their stakes in the rocket maker, our colleague Jonathan D. Rockoff reports.
The insiders of the company are some obvious winners, including:
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Musk, the founder and CEO, is the company’s single biggest shareholder with a roughly 40% stake that makes him the world’s first trillionaire, on paper. See how his wealth stacks up.
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Gwynne Shotwell, the longtime president, has worked at SpaceX for more than 20 years and oversees its daily operations. Read 19 things about her career.
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Antonio Gracias, a board member and venture capitalist, has backed several of Musk’s companies. Read how his VC firm became the second-biggest shareholder.
For a look at some of the other winners, read on here.
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Content from our sponsor: Deloitte
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Banking’s Next Frontier: AI-Native Products
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In institutional banking, new opportunities may come from advanced AI-native services that continuously analyze activity, make bounded decisions, and act in real time across treasury, payments, and credit. Read More
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Monday
The Federal Reserve Bank of New York releases the Empire State Manufacturing Survey for June.
The National Association of Home Builders releases its Housing Market Index for June.
Tuesday
Earnings: La-Z-Boy and John Wiley & Sons
The Census Bureau reports residential construction data for May.
Wednesday
Earnings: CarMax and Jabil
The Census Bureau reports retail and food service sales for May.
The Federal Open Market Committee announces its monetary-policy decision. The Fed’s policymaking arm is widely expected to leave the federal-funds rate unchanged at 3.5% to 3.75%.
Thursday
Earnings: Kroger
Friday
Equity and fixed-income markets are closed in observance of Juneteenth National Independence Day.
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Tehran’s Enqelab Square on Sunday. ABEDIN TAHERKENAREH/EPA/SHUTTERSTOCK
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The U.S. and Iran interim deal. Iran and the U.S. have agreed on an interim peace deal, the two nations announced Sunday, a potentially major breakthrough after nearly four months of fighting that created global political and economic turmoil. A deal is set to be signed Friday, President Trump and Pakistani negotiators said.
FOMC meeting on Wednesday. While the FOMC is expected to keep the federal-funds rate unchanged, Wall Street will want more clarity from newly appointed Federal Reserve chairman Kevin Warsh on topics such as the Fed’s balance sheet, forward guidance on interest rates and favored inflation measures. A look at the week ahead for FX and bond markets. Warsh boiled down his advice for the Fed before an audience of investors last year. “Stop talking so much,” he said. “More thinking, less talking.”
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“If we were hypothetically in a big [artificial-intelligence] bubble, one of the symptoms of an AI bubble would be a lot of IPOs.”
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—Economist Owen Lamont, who is a former finance professor and portfolio manager at Acadian Asset Management, whose investment research is widely followed.
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The WSJ CFO Council convenes the world’s top financial leaders so they can gain perspective on navigating market uncertainty, aligning priorities and making decisions that deliver measurable results. Join this trusted community where CFOs exchange approaches, access strategic insights and continuously sharpen their influence across the enterprise.
Request Information.
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The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy. Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew. You can reach us by replying to any newsletter, or email Walden at walden.siew@wsj.com.
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