Lates News

According to foreign media reports, Goldman Sachs bankers earned huge commissions when handling SpaceX's (SPCX.O) IPO in June, but an even bigger windfall related to the listing was set in motion years earlier. More than five years ago, when SpaceX was valued at only tens of billions of dollars, the bank helped some high-net-worth clients invest in Musk's company. People familiar with the matter said that when SpaceX listed at a valuation of $1.77 trillion, Goldman clients who sold shares reaped enormous gains and paid the bank hundreds of millions of dollars in incentive commissions. The people said Goldman's partners were able to invest alongside clients, meaning some current and former executives may also have realized substantial gains.