Musk Backer Gracias Reaches $24.4 Billion Fortune on SpaceX (1)

Backing Elon Musk for over two decades has now minted Antonio Gracias a multibillion-dollar fortune of his own.

Valor Equity Partners, the Chicago-based private equity firm Gracias founded, has emerged as one of the biggest winners of SpaceX’s initial public offering, holding a stake worth almost $97 billion as of Monday’s close. That’s helped boost the net worth of Gracias, its chief investment officer, to $24.4 billion, according to the Bloomberg Billionaires Index, which is valuing his fortune for the first time.

Antonio Gracias

Photographer: Eva Marie Uzcategui/Bloomberg

While most of Valor’s capital comes from outside investors, Gracias holds an outsized stake ...