Elon Musk’s friend who lent Tesla $1 million could make big from SpaceX IPO

Elon Musk's close friend, Antonio Gracias, who once lent $1 million to a struggling Tesla, stands to gain billions from SpaceX's upcoming IPO. Gracias's firm, Valor Equity Partners, holds a significant stake, potentially worth over $90 billion. However, recent equipment lease deals between SpaceX and Valor, involving AI infrastructure, have raised corporate governance concerns and scrutiny over related-party transactions.

By TOI TECH DESK