When SpaceX went public in June 2026, the IPO minted new billionaires, created thousands of millionaires, and added substantially to the fortunes of existing super-rich with stakes in the company. Among the largest gains went to Elon Musk’s friend and ally Antonio Gracias, who, along with his firm Valor Equity Partners, held roughly 6.7% of SpaceX’s class A shares as of the offering, a position worth $68 billion at the time of the IPO.

Most of those assets lie in the hands of Valor’s funds and their investors, but Gracias’ own fortune is now vast in its own right, if hard to pin down: Bloomberg’s Billionaires Index puts his net worth at $23.7 billion, up from about $2.2 billion a year earlier. Forbes still pegs his real-time fortune at $4.3 billion.

Gracias’ philanthropy is still a relatively modest affair, though some definite themes have emerged. His giving — at least that which is public — runs mainly through a family foundation he set up in 2021. Higher ed has been one big through-line of the foundation’s giving through 2024, but the cause that sets Gracias’ philanthropy apart is psychedelics research. Now, as he wields a vastly larger fortune on paper, it’s one part of his giving worth watching.

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Read the full article by Inside Philanthropy