On October 2, foreign media outlets reported that while Goldman Sachs bankers enjoyed substantial profits from managing SpaceX's (SPCX.O) Initial Public Offering (IPO) in June, an even more lucrative opportunity had been set in motion years prior. Over five years ago, when SpaceX was valued at merely tens of billions of dollars, Goldman Sachs stepped in to facilitate investments for some of its high-net-worth clients in the company. According to sources with inside knowledge of the situation, following SpaceX's public listing with a valuation of $1.77 trillion, clients of Goldman Sachs who opted to sell their shares reaped immense profits. In turn, they paid Goldman Sachs incentive commissions amounting to hundreds of millions of dollars. Moreover, Goldman Sachs permits its partners to co-invest alongside clients, implying that some current and former executives may have also reaped substantial financial rewards.
