Key facts
- Roelof Botha has joined the board of directors at SpaceX.
- Botha will also serve on SpaceX's audit committee.
- The appointment comes less than a week after SpaceX's IPO.
- Botha is a former CFO of PayPal and ex-steward at Sequoia Capital.
- He has a long-standing relationship with SpaceX founder Elon Musk.
Roelof Botha, a prominent venture capitalist and former CFO of PayPal, has joined the board of directors at SpaceX, according to a recent filing. He will also serve on the company's audit committee.
This appointment follows SpaceX's historic initial public offering (IPO), which occurred less than a week prior to the announcement. Botha's tenure as a board member begins approximately seven months after he stepped down as the leader, or 'steward,' of the legendary venture capital firm Sequoia Capital. His time at Sequoia coincided with a challenging period for the firm.
Botha has a notable history of backing successful companies, including YouTube, Instagram, Block, and MongoDB. He also shares a long-standing relationship with SpaceX founder Elon Musk, dating back to the dotcom era when Botha was CFO at PayPal and Musk was a cofounder. Despite reportedly having disagreements in the past, their professional relationship has endured, with Sequoia Capital being a significant venture backer of SpaceX.
In a previous interview, Botha spoke about his 25-year relationship with Musk, stating that Musk was the first to offer him a job in America and believed in him when he was an unknown student. Botha acknowledged that Musk is not perfect and may have unintended consequences from his actions, but asserted that Musk's intentions are pure.
The filing also revealed details about other SpaceX stakeholders, including board member Luke Nosek, who is estimated to be worth $2.7 billion due to his stake in the company. SpaceX's president and COO, Gwynne Shotwell, holds a stake valued at $1.3 billion, while CFO Bret Johnsen's stake is estimated at $700 million, with potential to increase.