Man who lent Elon Musk $1M to save SpaceX from bankruptcy could be set to see a truly unbelievable return for his money
Published on Jun 08, 2026 at 10:10 PM (UTC-4)
by Daisy Edwards
Last updated on Jun 12, 2026 at 11:37 AM (UTC-4)
Edited by
Mason Jones
SpaceX was dangerously close to bankruptcy, and one man who stepped in to save Elon Musk could be set to see a truly unbelievable return for his money.
Back in 2008, Musk’s private space company was facing one of the toughest moments in its history and desperately needed cash to stay alive.
At the time, one investor stepped in with a $1 million loan to help keep Elon Musk’s ambitious rocket company afloat.
Now, nearly two decades later, that same bet could turn into one of the most remarkable investment returns ever seen.
How a $1 million loan helped save SpaceX and Elon Musk
Today, SpaceX is one of the most valuable private space companies in the world, but things looked very different in 2008.
After a series of failed rocket launches and mounting financial pressure, the company was running dangerously low on money.
It was during this period that investor Antonio Gracias provided a $1 million personal loan to help Musk’s company through the crisis.
Gracias, founder of Valor Equity Partners, joined SpaceX’s board that same year and became one of Musk’s closest business allies.
His support wasn’t limited to SpaceX either; through Valor, he backed several Musk ventures, including Tesla, Neuralink, SolarCity, and The Boring Company.
The pair have worked together for more than two decades, with Musk previously crediting Gracias for helping Tesla survive some of its own early struggles.
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How much Gracias’ stake could be worth now
Valor might be receiving an extraordinary figure as a fallout of this investment, according to SpaceX’s long-awaited IPO plans.
Recent filings suggest Valor Equity controls around 7.2 to 7.3 percent of SpaceX, making it the company’s second-largest shareholder after Musk himself.
With SpaceX targeting a valuation of roughly $1.75 trillion to $1.8 trillion, analysts estimate that stake could be worth around $90 billion, and potentially even more if the company’s share price climbs after listing.
To put that into perspective, turning a $1 million rescue loan into a fortune measured in tens of billions would rank among the most spectacular returns in modern business history.
If the listing goes ahead at the proposed valuation, it won’t just be a landmark moment for SpaceX.
Musk will also be saying a big ‘gracias’ to Antonio Gracias.
Daisy is a technology and automotive journalist covering artificial intelligence, consumer tech, Apple news, cryptocurrency, emerging technologies, and transportation innovation. Since joining the team in 2025, she has reported on everything from AI-powered startups and major iOS updates to viral car stories and the latest developments shaping transportation and the digital economy. Drawing on her background in automotive journalism and a degree in History and Journalism from Goldsmiths, University of London, Daisy specializes in breaking down complex topics into clear, engaging reporting for a global audience. Her work spans cutting-edge technology, innovative vehicles, and the people driving change across both industries. Daisy has gained first-hand access to some of the world's most talked-about technologies and innovators, including meeting Tesla's Optimus humanoid robot during its first European appearance in London. She has also discussed the future of space exploration with an astronaut, bringing unique insights and real-world perspectives to her coverage of emerging technology.
