[Controversy Over $20 Billion Related-Party Transactions Emerges Ahead of SpaceX IPO, Musk's Friend May Enter Global Billionaires' List] BlockBeats reports that on May 25, a controversy over related-party transactions surfaced ahead of SpaceX's IPO. Antonio Gracias, a close friend of Elon Musk, owns over 7.3% of SpaceX shares through his firm Valor Equity, which could be valued at $90 billion to $140 billion based on the target valuation. Meanwhile, SpaceX disclosed a $20 billion GPU leasing agreement with Valor, under which its subsidiary xAI leases AI infrastructure hardware, with SpaceX providing payment guarantees. PwC has determined that the nature of this transaction is closer to a loan rather than a standard lease and has requested that approximately $9 billion of related debt be included in SpaceX's balance sheet. Several corporate governance experts have criticized the transaction for lacking "fair dealing" disclosures and raised concerns about potential related-party benefit transfers. The report also notes that new Nasdaq regulations could expedite SpaceX's inclusion in the Nasdaq index system post-IPO, potentially driving up to $60 billion in passive fund inflows. [Original Link]