Key facts
- JPMorgan Chase is hosting a celebration at its new Manhattan headquarters for SpaceX employees to mark the company's record-breaking IPO.
- The event will feature branded tomahawk steaks and "The Future is Public" cocktails.
- The IPO is estimated to have created approximately 4,400 new millionaires and 400 centimillionaires.
- Banks involved in the IPO stand to earn approximately $500 million in fees.
- Jamie Dimon, CEO of JPMorgan Chase, pitched the idea for the celebration to Elon Musk.
JPMorgan Chase is hosting a lavish celebration for SpaceX employees at its new Park Avenue headquarters to commemorate the company's record-breaking initial public offering. The event, conceived by JPMorgan CEO Jamie Dimon, aims to fete SpaceX's early employees, executives, and underwriters while also cultivating relationships with potentially hundreds of new high-net-worth clients created by the IPO.
The celebration includes themed dining such as moon pies and space ice cream, custom cloud candy, and a SpaceX-themed playlist. Guests will enjoy a dinner buffet featuring items like tomahawk steak, sushi, and a raw bar, with custom mirrors enhancing a futuristic ambiance. The evening will culminate in a specially curated light show at the top of the 1,388-foot skyscraper, projecting SpaceX rocket launches and space imagery.
The SpaceX IPO minted a fresh class of millionaires, paid banks hundreds of millions in fees, and added billions in profits to early institutional investors. At least 4,000 current and former SpaceX employees alone held equity stakes worth more than $1 million at the time of the IPO, according to estimates, with another 400 employees holding stakes worth more than $100 million. Banks involved in the IPO stand to make some $500 million in fees. The Nasdaq stock exchange broadcast a 120-foot image of Musk standing at the opening bell ceremony across its big screen in Times Square. Goldman Sachs and Morgan Stanley were also involved in hosting events and celebrations.