Meet Indian-origin Antonio Gracias who could earn Rs 12.16 lakh crore from SpaceX IPO

Indian-origin investor Antonio Gracias, one of Elon Musk's closest allies, could see his SpaceX stake soar to nearly Rs 12.16 lakh crore as the rocket company prepares for its long-awaited IPO.

In Short

• Indian-origin investor backed Elon Musk’s companies
• Antonio Gracias holds 7.3% stake in SpaceX ahead of IPO
• SpaceX IPO could make Gracias among world’s richest investors

When SpaceX finally opens its books to the public through its long-awaited IPO, the spotlight will not only be on Elon Musk. Another name quietly standing to gain billions is Indian-origin investor Antonio Gracias — one of Musk’s oldest and most trusted allies. Gracias may not be as famous as Musk, but in Silicon Valley circles, he has long been known as one of the people backing Musk’s empire from behind the scenes. And now, with SpaceX reportedly eyeing a valuation of up to $2 trillion, his fortunes could explode alongside the company’s IPO.

The Indian connection

Antonio Gracias has roots in India through his father, who immigrated to the United States from Goa and later became a neurosurgeon in Detroit. His mother was a Spanish pharmacist who ran a pharmacy shop.

Born and raised in America, Gracias built his career through finance, law and investing, eventually becoming one of the biggest names in private equity.

He studied at Georgetown University, where he pursued international economics, and later attended the University of Chicago for law school. He also spent time studying in Japan at Waseda University before working with Nikko Securities in Tokyo.

The man who backed Musk early

While still in law school in 1995, Gracias launched MG Capital — the foundation that later became Valor Equity Partners.

Over the years, Valor became deeply tied to Musk’s business empire. The firm invested in Tesla, SpaceX and later became involved with xAI.

Gracias joined SpaceX’s board and backed the rocket company as early as 2008, when many investors still considered private space exploration extremely risky.

That early bet is now looking extraordinary.

Why the IPO could make him one of the world’s richest people

According to IPO disclosures, Gracias and Valor Equity control around 7.3% of SpaceX — making him the second-largest stakeholder after Musk.

If SpaceX achieves a valuation close to $2 trillion, that stake alone could be worth roughly $128 billion (around Rs 12.16 lakh crore).

To put that into perspective, it would place Antonio Gracias among the richest people on the planet — largely because he stayed close to Musk’s companies for nearly two decades while remaining mostly unknown to the public.

More than just SpaceX

Gracias has also quietly helped build the infrastructure behind Musk’s AI ambitions.

As per Bloomberg, Valor Equity recently worked on financing arrangements linked to xAI’s massive computing expansion. The firm reportedly raised capital to purchase AI chips and data-center equipment, then leased them back to xAI.

Those deals turned into a lucrative business. xAI and related entities reportedly paid hundreds of millions of dollars in lease payments in 2025 and early 2026 alone.

In many ways, Antonio Gracias represents a different kind of billionaire story — not the loud founder in the spotlight, but the investor operating behind closed doors, helping fund some of the world’s most ambitious technology companies.

And if the SpaceX IPO becomes one of the biggest listings in history, the Indian-origin financier from a Goan family could suddenly become one of the most powerful names in global tech finance.

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