Soon-to-be SpaceX billionaires are gearing up for a windfall

SpaceX’s looming IPO is set to mint more new billionaires than any liquidity event in history.Investors and employees are rushing to prepare for the windfall.“It’s completely life changing,” an anonymous source who invested in SpaceX nearly 20 years ago told me.

While she’s made many successful investments, this single bet could increase her net worth 20 fold.“I didn’t think I’d be a billionaire,” she added.SpaceX is expected to list on the Nasdaq in June, and the company’s valuation could exceed $2 trillion, making it the largest company ever to go public.“No one’s seen anything like this before,” Justin Fishner-Wolfson, a partner at 137 Ventures and one of SpaceX’s earliest outside investors told me.While Fishner-Wolfson declined to disclose his fund’s total investment in SpaceX, he has said 137 Ventures’s investment will be north of $10 billion on the public market. When the San Francisco-based 137 Ventures launched in 2010, the firm raised just $50 million for its first fund.The anonymous early investor told me she’s already hired someone to run her newly created family office, which manages her investment portfolio, and sold her Manhattan apartment.

She’s scoping out property in Palm Beach and spending more of her time in Florida so she won’t be on the hook for New York taxes.Dozens, if not hundreds, of investors and employees are in a similar situation.“There are going to be a lot of single family offices that come out of this IPO,” said Cindy Scholz, who founded the Family Office Division at Compass and has several clients who are SpaceX investors.Family offices have already grown 25% over the last five years, and she expects to see that number skyrocket in the coming months thanks in part to SpaceX. Scholz, who works with ultra-high-net-worth families, said her clients who are expecting a windfall are already setting up trusts, building multi-state real estate portfolios, hiring security teams and interviewing c...