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VC firm Valor Equity Partners, founded by Antonio Gracias, a long-time Elon Musk backer and current SpaceX board member, has opted to simply give away a chunk of its SpaceX stock to its limited partner investors, according to an SEC filing<\/a> spotted by Bloomberg<\/a>.<\/p>\n Valor made a killing on SpaceX after investing in it over decades, with entities controlled by Gracias owning more than 500 million shares at the time of the IPO. This was second only to Musk<\/a> (who owned over 6 billion shares at the time). But instead of cashing out and issuing returns to LPs, Valor handed over 8.5% of its holdings to them, worth about $8.5 billion, Bloomberg estimates. Valor will still own more than 460 million shares after the giveaway, the SEC disclosure form says.<\/p>\n Transferring ownership of the shares could give those Valor limited partners a tax advantage. More importantly, it avoids dumping a giant tranche of shares into the open market. Such a dump could cause a glut of available shares and a corresponding dip in price. SpaceX is already down about 10% since its blockbuster IPO day. <\/a><\/p>\n<\/div>\n