JAKARTA – Antonio Gracias, a seasoned investor and long-time friend of Elon Musk, is reportedly poised to earn billions of US dollars from the private sale of shares in Musk’s privately-owned companies.

According to a report by The Wall Street Journal (WSJ), Gracias is currently offering approximately $1 billion worth of shares in SpaceX and xAI to select investors through a private sale scheme.

Gracias, the founder of Valor Equity Partners, is known as one of Musk’s closest allies. He has previously served on the boards of Tesla and SpaceX and is now involved in DOGE.

DOGE is a controversial initiative led by Musk, reportedly undertaking massive cuts at the US Social Security Administration. This move has raised concerns, even among hardline conservatives and staunch supporters of President Donald Trump.

The private share sale has sparked new questions about SpaceX’s strategy to maintain its private company status, despite its valuation skyrocketing from $12 billion in 2015 to approximately $350 billion by the end of last year.

Remaining private allows the company to avoid public financial disclosure obligations. One method employed is through special-purpose vehicles (SPVs)—intermediary entities that purchase shares on behalf of multiple investors but appear as a single shareholder in company records.

This scheme is often utilised by Musk’s inner circle, including Gracias, to provide limited access to investors in Musk’s tech ventures, such as SpaceX and xAI.

In addition to Gracias, others engaging in similar manoeuvres include Josh Berman, a co-founder of MySpace, and Luke Nosek, a member of SpaceX’s board. Criticism has also arisen regarding Musk’s close ties to the Trump administration, particularly as SpaceX is reportedly a leading candidate for a major missile defence system contract known as "Golden Dome". (EF/LM)