Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
Gate Card
Rewards
Square
Latest
Hot
News
Profile

Controversy Over $20 Billion Related Party Transaction Surfaces Ahead of SpaceX IPO, Musk's Friend May Join Global Billionaires List

AirdropBlackHole
On May 25, a controversy regarding related party transactions emerged on the eve of SpaceX's IPO. Antonio Gracias, a friend of Elon Musk, holds over 7.3% of SpaceX shares through his firm Valor Equity, which could be valued between $90 billion and $140 billion based on target valuations. Meanwhile, SpaceX disclosed a GPU leasing agreement worth approximately $20 billion with Valor, where a subsidiary of xAI will lease AI infrastructure hardware, and SpaceX will provide payment guarantees. PwC has determined that the nature of this transaction is closer to a loan rather than a standard lease, and has requested that around $9 billion in related debt be included on SpaceX's balance sheet. Several corporate governance experts have criticized the transaction for lacking disclosures of 'fair dealings' and have raised concerns about the risk of related party benefit transfers. Reports indicate that new Nasdaq regulations may also facilitate SpaceX's rapid inclusion in the Nasdaq index post-IPO, potentially bringing in up to $60 billion in passive investment buying.
SPCX0.46%
XAI2.1%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
GateUser-3975d864
· 1h ago
What does this have to do with SpaceX tokens?
View OriginalReply0

  • Pinned

Sitemap