Musk’s long-time backer is giving SpaceX stock to its investors

Valor Equity Partners, led by longtime Elon Musk ally and SpaceX board member Antonio Gracias, transferred 8.5% of its SpaceX holdings to its limited partners. Bloomberg estimates the distributed stake is worth about $8.5 billion, while Valor still retains more than 460 million shares.

The move may give Valor’s investors tax advantages while avoiding a large open-market sale that could pressure SpaceX’s stock. It also highlights how major venture backers are managing post-IPO liquidity carefully as SpaceX shares trade below their debut-day levels.