Adapted by:
Matías S. Zavia
WriterAerospace and energy industries journalist at Xataka.
Alba Mora
WriterAn established tech journalist, I entered the world of consumer tech by chance in 2018. In my writing and translating career, I've also covered a diverse range of topics, including entertainment, travel, science, and the economy.
SpaceX president and COO Gwynne Shotwell has made her debut on the Forbes billionaires list, with a fortune estimated at $1.2 billion.
Becoming a billionaire. Shotwell holds a 0.3% stake in SpaceX. The recent investments have increased the aerospace company’s valuation to $350 billion, significantly boosting Shotwell’s net worth.
According to Forbes, Shotwell’s wealth now stands at $1.2 billion, marking her first entry into the billionaire category. Data isn’t publicly available, meaning this figure is based on stock compensation received by early SpaceX employees.
Act of faith. In 2002, Shotwell joined SpaceX as employee number 11, leaving a secure job at Microcosm to take a chance on a startup with everything to prove. At the time, Boeing and Lockheed Martin had no competition. Additionally, Shotwell was going through a divorce with two young children.
When Musk asked her why she wanted to join the SpaceX team, Shotwell–a trained mechanical engineer–responded, “I’m a bleeping idiot.” Her first major challenge was promoting the Falcon 1 rocket and securing launch permits. After three unsuccessful attempts, she faced the difficult task of maintaining investor confidence.
SpaceX. In 2007, Shotwell successfully persuaded Iridium, a well-established company, to sign a contract with SpaceX, even though the rockets still hadn’t achieved any success.
Finally, in 2008, the Falcon 1 reached orbit, allowing SpaceX to secure a breakthrough contract with NASA. SpaceX agreed to develop the Dragon spacecraft, which would begin carrying cargo to the International Space Station.
That same year, Musk promoted Shotwell to president and COO. Since then, she’s earned key contracts with NASA, the Pentagon, and several commercial companies.
A leader. In addition to being Musk’s right-hand person, Shotwell is the only executive who has worked alongside him for more than two decades. While Musk is the visionary, Shotwell brings vital strengths to the table: stability, operational efficiency, and diplomatic management.
Shotwell has effectively accelerated SpaceX’s development, skillfully balancing the various elements required to design and manufacture rockets and satellites, as well as operate launches.
A unique company. In 2024, SpaceX completed 134 orbital launches, nearly triple that of its closest competitor, the state-owned China Aerospace Science Corporation, which managed 48 launches. Thanks to Starlink, SpaceX places 83% of all the world’s satellites into orbit. In fact, it finances the development of the Starship with its satellite Internet service, allowing for a faster launch rate.
The Starlink constellation expanded to 7,000 satellites and reached 5 million users–a 90% increase from 2023. Analysts at investment bank Morgan Stanley estimate that Starlink generated $900 million in operating profit on revenues of $9.3 billion in 2024. Pragmatic and efficient, Shotwell has been instrumental in all these operations. Her efforts are finally paying off now that she’s a billionaire.
Image | Daniel Oberhaus
Log in to leave a comment