While there are some shocking revelations in SpaceX’s S-1 as it prepares to go public, Elon Musk’s complete control over the company is not surprising.
The provision allowing Musk to receive up to a billion more shares for his already substantial company-controlling cache when a million people inhabit Mars, although striking, is somewhat lacking in seriousness. Musk can currently control and vote those shares.
Even a billion extra super-voting shares are inconsequential in this company’s setup, as Musk is the largest shareholder by far.
He owns nearly 850 million Class A shares, each with one vote, and almost 5.6 billion Class B shares, each with 10 votes. This includes the billion shares contingent on a million people residing in a SpaceX colony on Mars.
Setting aside sci-fi scenarios, several individuals stand to gain the most if SpaceX’s IPO is successful and its stock performs well: the 5% shareholders, holding at least 5% of the company.
While the company hasn’t disclosed the number of shares it will sell or the price, the market whispers suggest raising $75 billion, with a post-money valuation of $1.7 trillion. Even a 1% stake would be valued at $17 billion.
Here’s a breakdown of ownership:
**Elon Musk**, founder, CEO, CTO, and chairman. Total SpaceX stock: just over **6.42 billion shares**.
**Antonio Gracias**, investor and board member. Total SpaceX stock: just over **503.4 million shares**.
Gracias is the founder and CEO of Valor Management and a long-time Musk ally, having served on Tesla’s board and Musk’s solar company Solar City. He also financed Musk’s failed attempt to take over OpenAI for $97 billion in early 2025.
**Luke Nosek**, investor and board member. Total SpaceX stock: nearly **33 million shares**.
Nosek co-founded venture firm Gigafund and is a member of the PayPal mafia. He joined Peter Thiel at Founders Fund and helped with its initial investment in SpaceX, taking a long-standing board seat. Gigafund also supports Musk’s other ventures, The Boring Company and Neuralink.
**Gwynne Shotwell**, SpaceX COO. Total SpaceX stock: nearly **12.6 million shares**.
Shotwell, with SpaceX since 2002 and COO since 2008, is credited with running day-to-day operations. Although she isn’t co-founder, she received substantial compensation in 2025, totaling $85.8 million in stock units.
**Bret Johnsen**, CFO. Total SpaceX stock: nearly **9.6 million shares**.
Johnsen, SpaceX’s CFO since 2011, previously worked in the semiconductor industry.
**Ira Ehrenpreis**, investor and board member. Total SpaceX stock: **809,050 shares**.
Ehrenpreis, a founder and managing member of DBL Partners, joined SpaceX’s board in February 2026 and also serves on Tesla’s board.
**Randy Glein**, investor and board member. Total SpaceX stock: **277,800 shares**.
Glein is a co-founder and managing partner of DFJ Growth.
**About 400 other VCs.** SpaceX has raised approximately $30 billion in private capital from numerous investors. While none have a notable stake, even a small percentage is worth billions.
The company disclosed share prices paid by these investors. Series A investors paid $1 per share, Series F investors paid $7.50, and Series N investors paid $270 a share.
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