The headline numbers were solid. For the fourth quarter, e.l.f. reported net sales of $449.3 million, a 35% increase from the same quarter a year earlier. For the full fiscal year, net sales hit $1.64 billion, up 25%. Adjusted EBITDA for the year came in at $360.5 million. Adjusted diluted earnings per share were $3.13. The company also issued fiscal 2027 guidance calling for net sales between $1.835 billion and $1.865 billion.

There were some less glamorous details, too. e.l.f. is dealing with tariff issues. It is rolling back some price increases after realizing consumers were extremely sensitive to even small price hikes. It is watching oil prices. It is trying to balance growth against margin pressure. It posted a GAAP net loss for the quarter, partly because expenses jumped.

But buried inside all of that corporate blandness was this seemingly bland line:

"The Company recorded a fair value adjustment of $57.6 million for the fiscal year ended March 31, 2026."

That may sound very boring. It is not. At least, not if you're rhode founder Hailey Bieber…

(Photo by Raymond Hall/GC Images)

Rhode To Riches

Before she became a billion-dollar beauty founder, Hailey Bieber was Hailey Baldwin, the daughter of actor Stephen Baldwin and the niece of Alec, Billy, and Daniel Baldwin. She grew up adjacent to fame, entered the modeling world as a teenager, and eventually built a career that included magazine covers, fashion campaigns, runway work, and brand partnerships.

But let's be honest, for a long time, Hailey was best known to the broader public for one thing: being the extremely hot wife of Justin Bieber. That is not exactly a bad place to be in life. Pretty much every girl born in the 1990s would kill to be married to Justin Bieber, spending her days spending his money.

But that's not the life Hailey chose.

In June 2022, Hailey launched rhode (the first letter is intentionally not capitalized), a skincare brand named after her middle name. The company debuted with just three products: Peptide Glazing Fluid, Barrier Restore Cream, and Peptide Lip Treatment. The concept was simple, clean, and perfectly timed for TikTok: affordable skincare wrapped around Hailey's already viral "glazed donut skin" aesthetic.

It worked almost immediately. rhode sold out products, built long waitlists, and became one of the most talked-about celebrity beauty brands in the world. Unlike many celebrity vanity projects, rhode had actual traction. It was not just a famous person slapping her name on a moisturizer. It was a focused, tightly merchandised brand with a clear identity, a loyal customer base, and very real revenue.

By 2025, rhode had gone from buzzy direct-to-consumer startup to acquisition target. On May 28, 2025, e.l.f. Beauty announced that it had struck a deal to acquire rhode for up to $1 billion.

The structure of the deal is crucial.

e.l.f. agreed to pay $800 million upfront, consisting of $600 million in cash and $200 million in e.l.f. stock. That alone was an extraordinary outcome for a brand that had existed for less than three years. But the deal also included another $200 million in potential milestone payments, commonly known as an earnout.

Hailey's exact ownership stake in rhode has never been publicly confirmed, but industry estimates have generally placed her stake somewhere between 50% and 70%. Using that range, her share of the $600 million cash portion would be roughly $300 million to $420 million. Her share of the $200 million e.l.f. stock portion would be another $100 million to $140 million. In other words, before taxes, Hailey's share of the $800 million upfront portion likely landed somewhere between $400 million and $560 million.

Then there is the $200 million earnout.

If rhode unlocks the full $200 million in milestone payments, Hailey's share would likely be worth another $100 million to $140 million before taxes.

That brings us back to the company's recent quarterly earnings report, which included the following disclosure:

"Change in fair value of contingent consideration related to the acquisition of rhode (the "rhode Acquisition"). The Company recorded a fair value adjustment of $57.6 million for the fiscal year ended March 31, 2026, driven by the outperformance of rhode's revenue results relative to the earnout thresholds set forth in the merger agreement entered into in connection with the rhode Acquisition."

In plain English: e.l.f. promised a $200 million backend bonus if rhode hit aggressive growth targets over three years. Because rhode is performing so phenomenally well, e.l.f. had to adjust its books to show they are now highly likely to owe $57.6 million of that pool. The checks haven't been written yet, but the milestones are officially being locked in.

To be clear, Hailey will not personally receive that entire $57.6 million. But if Hailey owned 50% to 70% of Rhode, her implied share of that milestone-related amount would be roughly $28.8 million to $40.3 million before taxes.

How Much Could Hailey Ultimately Earn Altogether?

• $600 million cash upfront: If Hailey owned 50%, her share would be $300 million. If she owned 70%, her share would be $420 million.
• $200 million in e.l.f. stock: If Hailey owned 50%, her share would be $100 million. If she owned 70%, her share would be $140 million.
• $200 million potential earnout: If rhode unlocks the full milestone pool, Hailey's share would be $100 million at 50% ownership or $140 million at 70% ownership.

Put it all together, and Hailey's total potential pre-tax payday from the full rhode deal would be:

• At 50% ownership: $500 million
• At 70% ownership: $700 million

And to top it all off, she also gets to be Justin Bieber's extremely hot wife. Hailey Bieber is in the running for living the greatest life of any woman ever.

Read more: Hailey Bieber's Rhode Is Crushing So Hard It Just Triggered A $57.6 Million Earnout Charge At e.l.f. (The Company That Acquired Her Brand)

Lisette Morelos is a Mexican actress, model, and musician who has a net worth of $4 million.

Lisette Morelos is a Mexican actress, model, singer, and producer best known for her long career in Spanish-language television. She became a familiar face to international telenovela audiences through roles in "Alma rebelde," "Carita de ángel," "¡Vivan los niños!," "Ángel rebelde," "Aurora," "La impostora," and "Un camino hacia el destino." Morelos first gained fame playing sweet, sympathetic young women, especially in family-oriented melodramas, but she later made a deliberate move toward darker and more complicated roles. That versatility allowed her to avoid being trapped permanently in the innocent heroine mold that defined the early part of her career. Over the years, she has worked across Mexican television, Telemundo productions, political thrillers, comedy-drama, and horror films, building a résumé that reflects both mainstream popularity and a willingness to take risks.

Early Life

Lisette García Morelos-Zaragoza was born on May 21, 1978, in Mexico City, Mexico. She developed an interest in performing at a young age and trained at Televisa's Centro de Educación Artística, the prestigious acting school that has produced many of the biggest names in Mexican television.

Morelos began working professionally as a teenager. At 17, she landed a recurring role in the 1996 telenovela "Tú y yo," appearing alongside Maribel Guardia and Joan Sebastian. The role introduced her to national television audiences and marked the beginning of a long career in the telenovela industry.

Television Breakthrough

After early supporting roles, Morelos received her first major starring opportunity in the 1999 telenovela "Alma rebelde," opposite Eduardo Verástegui. The role helped establish her as one of Televisa's promising young actresses.

Her biggest early breakthrough came in 2000 with "Carita de ángel." Morelos played Cecilia Santos de Larios, a kind and compassionate novice nun who becomes a mother figure to the young central character. The show became a major international success and introduced Morelos to audiences throughout Latin America, the United States, and Europe. For many viewers, "Carita de ángel" remains her most recognizable role.

She continued that momentum with projects including "¡Vivan los niños!" and "Ángel rebelde," further cementing her image as a warm, sympathetic presence in family melodramas.

(Photo by Vallery Jean/Getty Images)

Reinvention

After several years in the spotlight, Morelos spent time living in Canada and stepped back from the pace of Mexican television. When she returned to acting more regularly, she began seeking roles that moved beyond the angelic image that had made her famous.

In "Niña de mi corazón," she played Moira Gasca, a lead antagonist role that showed a sharper and more calculating side of her screen persona. She then worked with Telemundo on "Aurora" and later starred in "La impostora," where she played a woman caught in a high-stakes undercover deception.

One of her most important mid-career roles came in the political thriller "Infames." As Sol Fuentes, Morelos played a tougher and more realistic character navigating corruption, power, and political intrigue. The role helped her break away from traditional telenovela stereotypes and showed the range she had developed over years in the industry.

Later Work

Morelos later returned to Televisa for projects including "Un camino hacia el destino" and "¿Qué le pasa a mi familia?" She also expanded into film, including the psychological horror movie "Forward," a genre that reflected her interest in darker material.

Personal Life

Morelos was married to Canadian citizen John Bainbridge from 2005 until their divorce in 2012. She later entered a long-term relationship with Mexican film director Rigoberto Castañeda, known for horror projects such as "Kilómetro 31."

Read more: Lisette Morelos Net Worth

Antonia Prebble is a New Zealand actress who has a net worth of $3 million.

Antonia Prebble is best known for her long-running work in some of the country's most popular television dramas, especially "Outrageous Fortune" and its prequel series "Westside." She first gained attention as Trudy in the teen sci-fi series "The Tribe," then became a household name in New Zealand playing Loretta West, the brilliant, ruthless, and darkly funny youngest daughter in the West family crime saga. Years later, she returned to the same fictional universe in "Westside," this time playing Rita West, the formidable matriarch of an earlier generation. Prebble has also appeared in "Power Rangers Mystic Force," "The Blue Rose," "ANZAC Girls," "Sisters," "The Brokenwood Mysteries," "My Life Is Murder," and several films, including "White Lies," "Pork Pie," and "Heart Eyes." Her career has been defined by versatility, intelligence, and a rare ability to move between youth television, comedy-drama, crime stories, period drama, and international genre projects.

Early Life

Antonia Mary Prebble was born on June 6, 1984, in Wellington, New Zealand. She grew up in a well-known New Zealand family that included several prominent public figures, including uncles Richard Prebble, John Prebble, Mark Prebble, and Tom Prebble. She attended Queen Margaret College in Wellington and later studied at Victoria University of Wellington.

Prebble began acting professionally as a child. Her early screen work included the television series "Mirror, Mirror," but her first major breakthrough came when she was cast as Trudy in "The Tribe." The post-apocalyptic teen drama developed a strong international following and gave Prebble early experience carrying a major television role across multiple seasons.

Television Career

Prebble's defining role came in 2005, when she was cast as Loretta West in "Outrageous Fortune." The series followed the chaotic West family as matriarch Cheryl West attempted to push her criminal household toward a more legitimate life. Loretta, played by Prebble, was one of the show's standout characters: coldly intelligent, ambitious, manipulative, and often extremely funny.

"Outrageous Fortune" became one of the most successful New Zealand television shows of its era, running from 2005 to 2010. Prebble appeared throughout the series and won acclaim for turning Loretta into one of the show's most memorable figures. The role helped establish her as one of New Zealand's best-known television actresses.

She also built an international fan base through the "Power Rangers" franchise. Prebble appeared in "Power Rangers Dino Thunder" and then played Clare Langtree, the Gatekeeper, in "Power Rangers Mystic Force." For many viewers outside New Zealand, that role remains one of her most recognizable credits.

Frazer Harrison/Getty Images

"Westside" And Later Roles

In 2015, Prebble returned to the world of "Outrageous Fortune" in the prequel series "Westside." Instead of reprising Loretta, she played Rita West, Loretta's grandmother. The casting gave Prebble the unusual opportunity to play two major characters from different generations of the same fictional family.

"Westside" explored the earlier lives of Rita and Ted West in 1970s and 1980s Auckland. Prebble's performance as Rita became one of the centerpieces of the show. The character was tougher, older, more dangerous, and more emotionally complicated than Loretta, allowing Prebble to show a more mature side of her acting range. The series ran from 2015 to 2020.

Between and after those two major West family roles, Prebble continued working steadily. She starred as Jane March in "The Blue Rose," appeared in "ANZAC Girls," played Edie Flanagan in the Australian drama "Sisters," and took guest or recurring roles in shows including "The Brokenwood Mysteries," "My Life Is Murder," "Shortland Street," and "One of Us Is Lying." Her later screen credits also include the films "Pork Pie," "Heart Eyes," and "Klara and the Sun."

Film Work

Although Prebble is best known for television, she has also appeared in several films. In 2013, she appeared in "White Lies," a New Zealand drama directed by Dana Rotberg and based on a novella by Witi Ihimaera. She later appeared in "The Cure," the 2017 comedy-action remake "Pork Pie," and other screen projects.

Her film work has generally complemented her television career rather than replacing it. Prebble's strongest visibility has come from long-form serialized television, where she has been able to develop memorable characters over many episodes and several years.

Personal Life

Prebble began a relationship with actor Dan Musgrove, her "Westside" co-star, in 2016. The couple became engaged in 2018 and later welcomed two children. They married in 2024. Prebble has lived primarily in Auckland, where much of New Zealand's television production industry is based.

Read more: Antonia Prebble Net Worth

Joan Sebastian was a Mexican singer, songwriter, actor, and producer who had a net worth of $5 million.

Known as "El Rey del Jaripeo," he built a career that blended ranchera, grupera, banda, norteño, and romantic ballads with a deeply personal songwriting style. Sebastian wrote hundreds of songs, released dozens of albums, and won multiple Grammy and Latin Grammy Awards, making him one of the most decorated Mexican artists of his generation. His music often centered on love, heartbreak, rural life, family, horses, and personal resilience, themes that helped him connect with audiences across Mexico, the United States, and Latin America. He was also known for his dramatic live performances, often singing while riding horseback in jaripeo-style concerts. Beyond music, Sebastian became a telenovela star through "Tú y yo," expanding his fame to television audiences. His career was marked by enormous success, public romances, personal tragedy, and a long battle with cancer, but his songs remain central to the modern Mexican music canon.

Early Life

Joan Sebastian was born José Manuel Figueroa Figueroa on April 8, 1951, in Juliantla, Guerrero, Mexico. He grew up in a rural environment that later became central to his public image and songwriting. Horses, ranch life, family loyalty, and small-town Mexican culture would eventually become recurring themes in both his music and stage persona.

As a young man, he considered joining the priesthood and spent time in a seminary. Music, however, became his true calling. He began writing songs as a teenager and eventually moved toward a professional career in entertainment. He adopted the stage name Joan Sebastian and spent years working his way into the music industry before becoming a national star.

Music Career

Sebastian released his early recordings in the 1970s and gradually developed a following as both a performer and songwriter. His breakthrough came as audiences responded to his emotional delivery and ability to write songs that felt personal, direct, and rooted in everyday life.

Unlike singers who relied primarily on outside material, Sebastian became known for writing much of his own music. His compositions were recorded by many other major artists, which helped establish him as one of the great songwriters in regional Mexican music. Over time, his catalog grew to include romantic ballads, rancheras, corridos, and upbeat grupera hits.

His best-known songs include "Secreto de Amor," "Tatuajes," "Juliantla," "Me Gustas," "Eso y Más," and "Rumores." These songs helped him build a massive fan base and turned him into one of the defining voices of Mexican popular music.

Sebastian's concerts were also a major part of his appeal. He became famous for performing on horseback, bringing the spectacle of the jaripeo into the world of modern concert touring. This helped separate him from other balladeers and reinforced his identity as a proud rural Mexican artist with mainstream star power.

Getty Images

Television Career

In 1996, Sebastian expanded his fame by starring in the Televisa telenovela "Tú y yo" alongside Maribel Guardia. The show was a major vehicle for his music and public image, and it introduced him to viewers who may not have followed regional Mexican music as closely.

"Tú y yo" also became notable because of Sebastian's real-life relationship with Guardia, one of the most famous actresses and performers in Mexico. Their romance, marriage, and later separation received significant media attention and became part of Sebastian's broader celebrity story.

Although music remained his primary career, his work in television helped make him a cross-platform star. He was not just a singer with hit records. He became a recognizable cultural figure whose personal life and public image were followed closely by fans and the Mexican entertainment press.

Awards And Achievements

Joan Sebastian became one of the most awarded Mexican musicians of all time. He won multiple Grammy Awards and Latin Grammy Awards across regional Mexican and traditional Mexican music categories. His success was especially impressive because he achieved recognition both as a performer and as a songwriter.

His albums sold widely, his songs became standards, and his compositions were covered by major artists throughout the Latin music world. Sebastian's ability to write in a way that felt intimate but universal was one of his greatest strengths. Whether singing about romantic longing, betrayal, pride, or grief, he had a gift for making personal emotion feel like shared experience.

Personal Life

Sebastian's personal life was often as public as his career. He had several relationships and fathered multiple children, including singers José Manuel Figueroa and Julián Figueroa. His family life brought him joy, but also profound tragedy.

Two of his sons, Trigo de Jesús Figueroa and Juan Sebastián Figueroa, were killed in separate violent incidents. Those losses deeply affected Sebastian and added a tragic dimension to his later years. His son Julián Figueroa later followed the family path into music and acting before his own death in 2023.

Sebastian was also open about his long battle with bone cancer. He was diagnosed in the late 1990s and endured multiple recurrences over the years. Even while dealing with serious illness, he continued recording, performing, and maintaining a visible public presence.

Death And Legacy

Joan Sebastian died on July 13, 2015, at his ranch in Juliantla, Guerrero. He was 64 years old. His death was mourned across Mexico and throughout the Latin music world.

Sebastian's legacy rests on his extraordinary songwriting, his distinctive voice, and his ability to fuse traditional Mexican themes with modern popular appeal. He was a superstar, but he never lost the rural identity that shaped his music. His songs continue to be performed, covered, streamed, and remembered by generations of fans.

More than a decade after his death, Joan Sebastian remains one of the essential figures in regional Mexican music. His catalog is filled with songs that feel both personal and timeless, and his influence can be heard in the work of countless artists who followed him.

Read more: Joan Sebastian Net Worth

The filing revealed some stats we pretty much already knew. For example, according to the filing, Elon Musk beneficially owns roughly 849 million Class A shares and 5.57 billion Class B shares, giving him 85.1% of SpaceX's voting power before the IPO. For net worth purposes, the cleaner number is lower because Musk's total includes restricted shares that have not yet been fully earned. "The Wall Street Journal" pegs his effective economic stake at slightly more than 40%. At a potential $2 trillion IPO valuation, that stake would be worth more than $800 billion, enough to put Musk within striking distance of becoming the first trillionaire in human history.

The S-1 also revealed another remarkable SpaceX fortune. Gwynne Shotwell, SpaceX's longtime president and chief operating officer, beneficially owns roughly 5.46 million Class A shares and 7.11 million Class B shares. That's about 12.57 million shares in total. At a $2 trillion valuation, Shotwell's stake would be worth roughly $2 billion.

FYI, Elon's name is mentioned 174 times in the S-1. Gwynne's name is mentioned 38 times.

And then there's this name, which I'm guessing you've never heard before: Antonio Gracias.

Antonio's name is mentioned just TWICE. On the other hand, the company he founded, Valor Equity Partners, is mentioned 68 times. Valor is primarily mentioned in a very subtle section where SpaceX's "beneficial ownership" stats are listed. In this section alone, dozens of different "Valor Entities" (like Valor Equity Partners VI L.P., Valor IV Space Holdings, etc.) are named.

When you add up all these ownership stakes, Valor is the largest non-Musk ownership block of SpaceX.

The S-1 attributes more than 503 million Class A shares to Gracias through a web of Valor-related entities. The adjusted Valor/Gracias holding represents about 7.3% of SpaceX. If SpaceX goes public next month at a $2 trillion valuation, that stake would be worth roughly $146 billion.

And that's where this story gets interesting.

Because Antonio Gracias is not a random hedge fund guy who wandered into SpaceX late and got lucky. He is one of Elon Musk's oldest friends, one of his most loyal boardroom allies, and one of the earliest outside believers in the entire Musk industrial complex.

Gracias reportedly met Musk around 26 years ago through a mutual friend in Silicon Valley. At the time, Musk was not the richest person on Earth. He was a recently enriched internet entrepreneur, coming off Zip2 and heading toward PayPal. SpaceX did not exist. Tesla did not exist in anything close to its modern form. Starlink, Neuralink, xAI, Grok, and the idea of putting AI data centers in orbit were the stuff of science fiction.

Gracias saw something early. And unlike many people who have orbited Musk for a few years before burning out, falling out, or cashing out, Gracias stayed close. That loyalty is about to pay off to the tune of around $20 BILLION to Antonio Gracias personally…

(Photo by Scott Olson/Getty Images)

The Friend Who Bet On Elon Before The World Did

Antonio Gracias was born around 1970 in Detroit, Michigan, to immigrant parents. His father was a neurosurgeon from India. His mother was a pharmacist from Spain who ran her own shop. His introduction to investing reportedly came in middle school, when his mother helped him buy $300 worth of Apple stock, shares he reportedly still holds.

Gracias attended Georgetown University, where he completed a joint-degree program through the Walsh School of Foreign Service. In 1993, he graduated with both a BSFS and an MSFS, concentrating in international economics. During his undergraduate years, he studied abroad at Waseda University in Tokyo and later returned to Japan for a fellowship with Nikko Securities. He then earned a JD from the University of Chicago Law School in 1998.

But instead of taking the traditional corporate law path, Gracias went into investing. While still a law student, he founded his first private equity firm, MG Capital, in 1995. That team eventually became the foundation for Valor Equity Partners, the Chicago-based firm he built into a major investment powerhouse.

Valor developed a reputation for backing complicated, operationally intense, high-growth companies. In other words, exactly the kind of companies Elon Musk likes to build.

The Musk Connection

Gracias was not just an investor in Musk's companies. Over time, he became a confidant and defender.

He backed Tesla. He backed SpaceX. Valor went on to invest across the broader Musk ecosystem, including SolarCity, Neuralink, and xAI. Musk, in turn, reportedly invested in at least one Valor fund.

Gracias served on Tesla's board from 2007 until 2021, including as lead independent director. That "independent" label became controversial because Gracias was so close to Musk personally and financially. Critics argued that he was too loyal to be considered truly independent. Musk likely saw that same loyalty as the entire point.

When Tesla was fighting for survival during the financial crisis, Gracias was there. When Tesla was slogging through the chaotic Model 3 production ramp, Gracias was there. When Musk needed allies in the boardroom, Gracias was there.

He remains a director at SpaceX.

Anthonio & Valor's Massive Windfall

As we stated earlier, when you add up the dozens of positions controlled by Valor thanks to its various pre-IPO investments, the firm controls a combined 7.3% stake in SpaceX. If SpaceX goes public at a $2 trillion valuation, that equates to around $146 billion.

A standard carry arrangement gives the investment firm around 20% of the profits after returning capital and clearing any applicable hurdles. So, if Valor's SpaceX stake is worth around $146 billion at IPO, and if Valor earns a standard 20% carry on that windfall, the carry pool could be roughly:

$128 billion x 20% = $30 billion

Gracias would not necessarily receive all of that. Other Valor partners would share in the economics. But as Valor's founder, CEO, and chief investment officer, he would presumably receive the largest piece.

If Gracias receives 80% of that carry pool, his personal payday would be roughly $23 billion.

That is on top of a pre-IPO fortune already estimated at around $4 billion.

So under this hypothetical, the SpaceX IPO could push Antonio Gracias's net worth into the $20 billion to $25 billion range, making him one of the richest private equity investors in America.

And again, this is not some random late-stage mark-up. This is the payoff from betting on Musk before SpaceX had reusable rockets, before Tesla was a trillion-dollar company, before Starlink became a global internet provider, and before Musk became the richest person in the world.

Congrats and good luck next month Antonio!

Read more: Mucho Gracias: Elon Musk's Longtime Friend And Business Ally, Antonio Gracias, Could Make $20 BILLION From The SpaceX IPO

Antonio Gracias is an American billionaire investor and private equity executive who has a net worth of $5 billion. Antonio Gracias is the founder, CEO, and chief investment officer of Valor Equity Partners. He is best known for his long association with Elon Musk and for being one of the most important behind-the-scenes financial allies in the Musk business empire. Through Valor, Gracias has invested in or supported several Musk-linked companies, including Tesla, SpaceX, SolarCity, Neuralink, and xAI. He served on Tesla's board for more than a decade, including time as lead independent director, and has remained a director at SpaceX. While Musk has spent years as one of the most visible entrepreneurs in the world, Gracias has generally operated quietly, helping supply capital, boardroom support, and strategic relationships. His SpaceX-related holdings through Valor-related entities have made him one of the largest disclosed non-Musk beneficial owners connected to the company, positioning him for one of the largest private-investor windfalls in IPO history.

Early Life

Antonio Gracias was born around 1970 in Detroit, Michigan. He is the son of immigrant parents. His father was a neurosurgeon from India, and his mother was a pharmacist from Spain who ran her own shop. Gracias was exposed to investing at an early age. According to accounts of his childhood, his mother helped him buy $300 worth of Apple stock when he was in middle school, an investment he reportedly continued to hold years later.

Gracias attended Georgetown University, where he studied in the Walsh School of Foreign Service. He graduated in 1993 with both a BSFS and an MSFS, concentrating in international economics. During his college years, he studied abroad at Waseda University in Tokyo and later returned to Japan for a fellowship with Nikko Securities. He went on to earn a JD from the University of Chicago Law School in 1998.

Valor Equity Partners

Gracias began building his investment career before he had even finished law school. In 1995, while still a student at the University of Chicago, he founded MG Capital, his first private equity firm. That early team eventually became the foundation for Valor Equity Partners, the Chicago-based investment firm that would make him a billionaire.

As founder, CEO, and chief investment officer, Gracias built Valor around a strategy of investing in high-growth companies that often required operational expertise, not just capital. The firm developed a reputation for backing ambitious businesses in technology, manufacturing, defense, healthcare, logistics, and consumer sectors. Valor has invested in companies such as Anduril Industries, Zipline, Eight Sleep, K Health, and Harmony Biosciences.

Relationship With Elon Musk

Gracias is most widely known for his long relationship with Elon Musk. The two reportedly met around 1999 through a mutual friend in Silicon Valley, before Musk had become the world's most famous entrepreneur and before Tesla or SpaceX had reached anything close to their modern scale.

Over time, Gracias became much more than a passive investor. He became one of Musk's closest friends, advisers, and boardroom allies. Valor invested across the Musk ecosystem, including Tesla, SpaceX, SolarCity, Neuralink, and xAI. Musk reportedly invested in at least one Valor fund, further tying the two men's financial interests together.

Gracias served on Tesla's board from 2007 until 2021, including time as lead independent director. His closeness to Musk drew criticism from some investors who questioned whether he could truly be considered independent. Supporters, however, viewed him as a steadying force during some of Tesla's most difficult periods, including the company's late-2000s financial struggles and the chaotic Model 3 production ramp. Gracias also remains a director at SpaceX.

SpaceX Stake And Potential IPO Windfall

Gracias's connection to SpaceX became especially notable when the company's S-1 filing revealed that he was deemed to beneficially own more than 503 million Class A shares through a network of Valor-related entities. Those entities collectively represented the largest disclosed non-Musk ownership block connected to SpaceX.

At a potential $2 trillion SpaceX valuation, the adjusted Valor/Gracias holding has been estimated at roughly $130 – $145 billion. That does not mean Gracias personally owns the entire stake. Most of the underlying economics belong to Valor's limited partners, the institutions, endowments, family offices, and wealthy individuals that supplied capital to the funds.

Gracias's personal upside would likely come from carried interest, his own investments, and his share of Valor's economics. If Valor earned a standard 20% carry on a roughly $128 billion SpaceX windfall, that would create a carry pool of about $25.6 billion. If Gracias received the majority of that pool as Valor's founder and chief investment officer, his personal payday could theoretically be around $20 billion. That would come on top of a pre-IPO net worth of $5 billion.

xAI And Other Musk-Related Activity

Valor's role in the Musk ecosystem has extended beyond early Tesla and SpaceX investments. The SpaceX filing also revealed major xAI-related equipment leasing arrangements involving Valor-connected entities. These deals were tied to computing and data center infrastructure, reflecting Valor's continued involvement in Musk's artificial intelligence ambitions.

Gracias's influence therefore spans several of Musk's biggest ventures: electric vehicles, rockets, satellite internet, artificial intelligence, and advanced technology infrastructure. He has not been the public face of those companies, but his capital and loyalty have made him one of the most important figures behind the scenes.

Philanthropy And Other Interests

Gracias has also been active in philanthropy and public service. He has served on the Board of Trustees for the University of Chicago, the board of the Pritzker School of Molecular Engineering, and the board of advisors for Georgetown's Walsh School of Foreign Service. He has also been involved with The Aspen Institute.

In 2015, President Barack Obama named Gracias a Presidential Ambassador for Global Entrepreneurship. In later years, Gracias also became a major supporter of psychedelic therapy research, including donations to the Multidisciplinary Association for Psychedelic Studies and Harvard-backed research efforts. He was also involved with Lykos Therapeutics as investors worked to advance the company's future after regulatory setbacks.

Read more: Antonio Gracias Net Worth

"Demand has gone parabolic."

That demand is being powered by the explosion of artificial intelligence, data centers, GPUs, networking hardware, and what Huang called the arrival of "agentic AI." NVIDIA is no longer merely a hot tech stock. It is the most valuable public company in the world, with a market cap around $5.5 trillion.

NVIDIA also announced an $80 billion share buyback program and said it intends to return 50% of its free cash flow to shareholders this year. That means the company is no longer just rewarding investors through stock appreciation. It is now turning its AI cash machine into a direct income stream.

But buried inside today's earnings announcement was a smaller line item that will have a gigantic personal impact on Jensen Huang:

NVIDIA is increasing its quarterly cash dividend from $0.01 per share to $0.25 per share.

That may not sound like much. After all, a quarter per share is still a very modest dividend on a stock trading at nosebleed levels. But when you own hundreds of millions of shares, a tiny dividend can turn into a personal money cannon.

According to recent SEC filings from late 2025 and early 2026, Jensen Huang owns somewhere between roughly 854 million and 922 million shares of Nvidia when combining direct holdings and indirect holdings through trusts and LLCs. The exact number fluctuates due to vesting stock awards and pre-planned sales.

Using the lower end, 854 million shares, the math is astonishing.

At NVIDIA's old dividend rate of $0.01 per quarter, Jensen was earning: $0.04 per share per year x 854 million shares = $34.16 million per year

That is already an absurd amount of passive income. It is more than most CEOs will earn in salary over an entire lifetime.

But at the new dividend rate of $0.25 per quarter, Jensen will earn: $1.00 per share per year x 854 million shares = $854 million per year

That is an $820 million annual raise. For doing nothing.

To be clear, "doing nothing" in this context means he does not have to sell a single share, negotiate a new contract, cash in options, or hit another performance target. As long as he owns the shares and NVIDIA keeps paying the dividend, the checks simply arrive.

And that is using the low end of his reported ownership. If his true beneficial ownership is closer to 922 million shares, his annual dividend haul would be closer to $922 million.

:0

Read more: Thanks To Nvidia's New Dividend, Jensen Huang Is About To Earn $854 Million A Year For Doing Nothing (Up From $34 Million)

Now the combined compound has hit the market for $110 million.

According to The Wall Street Journal, which first reported the listing, the Sunset Islands compound includes eight bedrooms between the main house and guesthouse, two docks, an 82-foot lap pool, and modern interiors finished with ipe wood, limestone, and concrete.

The main house was designed by architect Kobi Karp and built by developer Todd Michael Glaser, who completed it around 2020. Wright bought the property from Glaser and his partners the following year. The roughly 8,600-square-foot home includes six bedrooms, an office, an elevator, and a primary suite with two dressing rooms, a private terrace, and an outdoor shower overlooking the water.

If Jason gets $110 million, it would be a $77.5 million gain in under five years. Here is a video tour:

Who Is Jason Wright?

Jason Wright is a partner at Apax Partners, one of the world's major private-equity firms. According to his official Apax bio, he works on the firm's Tech team and oversees Apax Global Impact and Apax Vantage Software. He joined Apax in 2000 and is based in New York.

Before joining Apax, Wright worked at Accenture and GE Capital. He earned a bachelor's degree in economics from Tufts University and an MBA in finance from the Wharton School of the University of Pennsylvania.

Over the years, Wright has served on the boards of numerous software and technology companies, including RealPage, Paycor, Duck Creek, Verint, Epicor Software, Tivit, Planview, and IntraLinks. He currently serves as a director of Teciem, IBS Software, EcoOnline, Bonterra, and ECi Software Solutions. He is also a trustee of the Apax Foundation, chairman emeritus and current board member of the Opportunity Network, and serves on the Board of Advisors of the Hospital for Special Surgery.

In an interview with "Wharton Magazine," Wright described his career path as somewhat accidental. He began as a computer programmer at Accenture before realizing the job was not his "true calling." A rotation through GE's venture capital group eventually led him toward private equity, and a former GE colleague recruited him to Apax while Wright was attending Wharton.

In that same interview, Wright highlighted RealPage as one of his favorite deals, noting that Apax invested $30 million and eventually took out $300 million. He also pointed to TIVIT, Apax's first deal in Brazil, as a major learning experience.

Read more: A Miami Mansion That Cost $18.5 Million In 2021 Was Just Listed For $110 Million

Luke Littler is an English professional darts player who has a net worth of $6 million.

Nicknamed "The Nuke," Littler exploded into global attention at the 2024 PDC World Darts Championship, where he reached the final at just 16 years old and instantly became the face of a new darts boom. Rather than fading after that breakthrough, he quickly proved that his run was not a novelty act. Littler went on to win the PDC World Darts Championship, Premier League Darts, the Grand Slam of Darts, the World Series of Darts Finals, the UK Open, the World Matchplay, and other major televised events, building one of the fastest rises in modern darts history. Known for his calm stage presence, heavy scoring, fearless finishing, and unusually mature temperament, Littler helped bring darts to a younger and wider audience. By 2026, he was ranked world No. 1, had won back-to-back world titles, and had been presented with an MBE by Prince William at Windsor Castle for services to the sport of darts.

Early Life

Luke Littler was born on January 21, 2007, in Warrington, Cheshire, England. He began playing darts at a very young age and quickly showed a natural feel for the game. Stories of Littler throwing darts as a small child became part of his early mythology, and by the time he was a teenager, he was already being discussed inside the sport as a rare prodigy.

Before turning professional, Littler built an extraordinary youth résumé. He won multiple junior and development titles and became known for playing with the confidence and rhythm of a much older competitor. His ability to average heavily, hit maximums under pressure, and finish legs clinically made him one of the most closely watched young players in British darts.

Breakthrough At Alexandra Palace

Littler's mainstream breakthrough came at the 2024 PDC World Darts Championship at Alexandra Palace. Still only 16, he entered the tournament as a highly regarded prospect but left as an international sports story. He defeated a series of established professionals and reached the final, where he lost to Luke Humphries.

That run changed the trajectory of his career almost overnight. Littler became a household name in the United Kingdom, drew huge television audiences, and brought new attention to darts from people who rarely followed the sport. His age made the story irresistible, but his performance level made it clear that he was not simply a curiosity. He looked like a future champion almost immediately.

Major Titles And World No. 1 Rise

Littler responded to his breakout season by turning potential into trophies. In 2024, he won Premier League Darts, the World Series of Darts Finals, and the Grand Slam of Darts, establishing himself as one of the sport's elite players before he was old enough to enter many adult venues as a regular customer.

He then made history by winning the PDC World Darts Championship at 17 years and 347 days old, becoming the youngest player ever to lift the sport's most important trophy. Littler continued his dominance by winning back-to-back world titles, joining Phil Taylor, Adrian Lewis, and Gary Anderson as only the fourth player in PDC history to achieve consecutive World Championship victories.

His rise also included victories at the UK Open, World Matchplay, World Grand Prix, Grand Slam of Darts, Players Championship Finals, and World Masters. By 2026, Littler had become world No. 1 and was widely viewed as the most important figure in darts.

(Photo by Lewis Storey/Getty Images)

MBE Honor

In the 2025 King's Birthday Honours List, Littler was awarded an MBE for services to darts. He received the honor alongside rival Luke Humphries, reflecting how both players had helped elevate the sport during a period of major growth.

In May 2026, Littler was presented with the MBE by Prince William at Windsor Castle. The ceremony marked another milestone in his rapid transformation from teenage prospect to nationally recognized sports figure. Littler said the honor was unexpected and emotional, describing it as a proud moment for him and his family.

Prize Money & Career Earnings

By mid-2025, Littler had already surpassed the £2 million barrier in career prize money alone, roughly $2.5 million to $2.7 million depending on exchange rates. That figure came from his remarkable consistency in reaching and winning the biggest events in darts.

His largest tournament paydays included £500,000, roughly $630,000, for winning the 2025 PDC World Darts Championship; £275,000, roughly $350,000, plus nightly bonuses for winning the 2024 Premier League; £200,000, roughly $250,000, for winning the 2025 World Matchplay; and £200,000, roughly $250,000, for his runner-up finish at the 2024 PDC World Darts Championship.

Outside official PDC prize money, Littler also became one of the most in-demand players on the exhibition circuit. Top darts stars can command up to £25,000 per night, roughly $31,000, for appearances, and Littler's annual exhibition income has been estimated in the £150,000 to £375,000 range, or roughly $190,000 to $475,000.

His commercial income grew even faster. Littler signed a major long-term deal with Target Darts that has been widely described as one of the most lucrative endorsement agreements in darts history. The partnership includes branded darts and accessories, giving him a direct link to merchandise sales among fans. He also secured mainstream sponsorships with brands including boohooMAN, Xbox, KP Snacks, and the Sidemen's BEST Cereal, helping push his total earnings far beyond tournament prize money.

Playing Style And Impact

Littler is known for his heavy scoring, relaxed throwing rhythm, and fearless finishing. He has produced spectacular checkouts, including back-to-back 170 finishes, and developed a reputation for looking unusually composed on the biggest stages. His matches against Luke Humphries became one of the defining rivalries of the sport's modern era.

More importantly, Littler helped change the public image of darts. His teenage success brought younger fans to the sport, increased media coverage, and gave darts a breakout crossover star. By becoming world champion, world No. 1, and an MBE recipient before turning 20, Luke Littler built one of the most extraordinary early careers in British sporting history.

Read more: Luke Littler Net Worth

Raúl succeeded his older and more famous brother, Fidel Castro, who ruled Cuba for nearly half a century. Fidel served as Cuba's prime minister from 1959 to 1976, president from 1976 to 2008, and First Secretary of the Communist Party from 1965 to 2011. Together, the brothers controlled Cuba for more than six decades, first as revolutionary heroes, then as Cold War icons, and finally as aging symbols of one of the world's last surviving communist regimes.

After roughly a decade of relative calm between Washington and Havana, today's indictment is a stunning development in the long-strained relationship between the two countries. Obviously, unless the Trump administration pulls off some kind of Venezuela-style Maduro extraction, it is highly unlikely that Raúl will ever see the inside of an American courtroom.

But the indictment has done something else: It has dragged the Castro family back into the global spotlight. And that spotlight naturally raises one of the most fascinating, uncomfortable, and fiercely denied questions surrounding the Cuban regime:

How much money does the Castro family control?

For nearly seven decades, Cuba's communist leaders presented themselves as selfless revolutionaries who had rejected capitalism, private wealth, and material excess. Fidel wore olive-drab fatigues, denounced imperialist greed, and claimed to live on an official salary worth roughly $36 a month. Raúl, meanwhile, spent decades as the quiet military enforcer of that same revolution before inheriting the top job from his brother.

And yet… For almost as long as the Castros ruled Cuba, investigators, defectors, journalists, and financial analysts have alleged that the revolutionary image hid something decidedly un-communist: A world of hotels, banks, retail monopolies, foreign-currency businesses, yachts, private compounds, offshore accounts, and state-owned companies that are allegedly controlled by the ruling family. When this shadow economy is added up, it equates to a massive personal fortune worth hundreds of millions of dollars that essentially belongs to the supposed Communist rulers.

Fidel Castro (right) and Raúl (left) (Photo by Sven Creutzmann/Mambo Photography/Getty Images)

Fidel Castro Claimed To Own Nothing

The official version of Fidel Castro's life was simple: He was a revolutionary, not a rich man. He claimed to live modestly, earning a tiny government salary, wearing the same military-style fatigues, and insisting that he had no personal fortune.

That image was essential to the mythology of the Cuban Revolution. Fidel was not supposed to be a king, billionaire, landlord, or tycoon. He was supposed to be the man who overthrew a corrupt elite and replaced private greed with socialist equality.

But beginning in the late 1990s, Forbes began trying to estimate Castro's personal fortune. The numbers varied widely because the methodology kept changing:

• 1997: $150 million, based on a rough formula that assigned Castro a small percentage of Cuba's GDP.
• 1998: $1.4 billion, a brief outlier estimate based on the assumption that Castro effectively controlled 1% of the country's entire economic output.
• 2003-2004: $110 million to $150 million, as Forbes returned to a more conservative GDP-based methodology.
• 2005: $550 million, after Forbes shifted from the GDP method to a corporate-style valuation of specific Cuban state-linked enterprises.
• 2006: $900 million, the historical peak of the estimate and the number that triggered Castro's famous televised denial.

To reach those later estimates, Forbes reportedly examined Cuban state-linked enterprises that generated significant hard currency and operated under Castro's direct influence. Those included CIMEX, a sprawling commercial conglomerate involved in retail, gas stations, import-export businesses, and foreign-currency stores; Medicuba, the state entity connected to pharmaceutical exports; and the Havana Convention Center, which generated revenue from international events.

The estimate was not based on a normal brokerage account, stock portfolio, or bank statement. It was based on a more politically explosive idea: In a dictatorship where one ruler exercises unchecked control over state-owned companies, the line between public property and personal power can become almost meaningless.

Fidel's Furious Denial

When the 2005 list came out ($550 million), Fidel threatened to sue the outlet for libel. The Cuban government called Forbes "an American magazine of decaying credibility" (which, I would argue, is more true today than it was in 2005).

When the 2006 list came out, and the number nearly doubled to $900 million, Fidel went completely nuclear. Instead of releasing a simple statement, he staged a four-hour live television broadcast to dispute the allegations. Flanked by top officials, including his central bank governor, Castro insisted that he had no foreign bank accounts and no hidden fortune. He literally held up the magazine, calling it "rubbish," while offering:

"If they can prove that I have a bank account abroad, with $900 million, with $1 million, $500,000, $100,000, or $1 in it, I will resign."

His central bank official called the article "vulgar and ridiculous," "grotesque slander," and claimed the American press at large is controlled by the CIA.

Fidel during his 2006 press conference (ISMAEL FRANCISCO/AFP via Getty Images)

The Bodyguard's Explosive Allegations

One of the most vivid accounts came from Juan Reinaldo Sánchez, a former member of Fidel Castro's elite security detail. In his 2014 book, "The Double Life of Fidel Castro: My 17 Years as Personal Bodyguard to El Lider Maximo," Sánchez alleged that the revolutionary leader's public austerity was a carefully constructed fiction.

According to Sánchez, Fidel lived far more like a Caribbean monarch than a humble socialist servant.

The book described Cayo Piedra, an allegedly secret private island south of the Bay of Pigs, complete with residences, guest accommodations, a swimming pool, a helipad, and waters protected by Cuban security forces. Sánchez also described the "Aquarama II," an 88-foot luxury yacht reportedly gifted to Castro by Soviet leader Leonid Brezhnev.

He further alleged that Castro had access to a network of luxury estates around Cuba, including the heavily guarded Havana compound known as Punto Cero. That compound reportedly included private food production facilities, including dairy cows, greenhouses, and orchards, to provide premium food for the ruling family.

Perhaps most sensationally, Sánchez claimed that diamonds connected to Cuba's military involvement in Angola were brought back to Havana and stored in Castro's private office.

The Cuban government and its defenders have long rejected these kinds of claims. But Sánchez's account became a major part of the argument that the Castros' real wealth could not be understood by looking for normal private assets. The wealth was allegedly embedded in access, control, secrecy, and privilege.

Raúl Castro And GAESA

If Fidel was the face of the revolution, Raúl was the builder of its machinery.

Raúl spent decades running Cuba's military and security apparatus. As defense minister, president, and Communist Party leader, he helped create and expand the military-controlled business system that became one of the most powerful forces in Cuban life.

At the center of that system is GAESA, Grupo de Administración Empresarial S.A., a massive conglomerate tied to Cuba's Revolutionary Armed Forces. Critics, defectors, and analysts have described GAESA as a corporate state within the state, controlling many of the sectors that actually generate hard currency in Cuba.

GAESA's longtime power broker was Major General Luis Alberto Rodríguez López-Callejas, Raúl Castro's former son-in-law. Under his leadership, the military-linked conglomerate became deeply involved in tourism, retail, remittances, ports, logistics, finance, and foreign trade.

Some analysts have estimated that GAESA controls anywhere from 60% to 80% of the Cuban economy. Other estimates have placed the assets and reserves connected to the network at upward of $18 billion.

To be clear, that does not mean Raúl Castro personally has $18 billion. But it does suggest that the Castro family and its military-linked inner circle allegedly exercised enormous control over the most profitable sectors of a supposedly socialist economy.

You may be surprised to learn that the late Supreme Leader of Iran, Ayatollah Ali Khamenei, allegedly employed a remarkably similar system for decades. In Iran, the vehicle was called Setad, a secretive conglomerate created after the 1979 Islamic Revolution to manage seized and disputed assets. Like GAESA in Cuba, Setad was not merely a normal state company. It operated under the authority of the supreme leader, outside ordinary parliamentary oversight, and grew into a sprawling empire of real estate, banks, farms, manufacturing companies, telecom interests, and financial holdings. A 2013 Reuters investigation estimated that Setad controlled roughly $95 billion in assets, while U.S. officials later described it as Khamenei's personal off-the-books $200 billion hedge fund.

Hotels, Banks, Retail, Remittances, And Ports

GAESA matters because it is tied to the parts of Cuba that earn real money.

Through its tourism subsidiary Gaviota, GAESA has controlled major luxury hotels, beach resorts, marinas, and tourist infrastructure. These properties cater to foreign visitors and generate hard currency, even as many ordinary Cubans struggle to obtain basic goods.

GAESA has also been connected to retail networks where Cubans buy imported products using foreign currency, as well as financial channels linked to remittances sent home by Cubans living abroad. In practice, critics argue, the military-linked economy has profited from both tourism dollars and exile money.

The conglomerate's reach has also extended into shipping, customs, car rentals, the Mariel Special Development Zone, and other critical nodes of Cuban commerce.

That is why the Castro wealth question is so difficult to answer. It is not a simple matter of adding up mansions, stock holdings, and bank accounts. The allegation is that the family's power rests in a system where control over the state functioned like control over a private empire.

The Offshore Mystery

For decades, defectors and financial investigators have alleged that Cuban ruling elites used offshore structures to move and protect wealth outside the island. Switzerland, Luxembourg, Liechtenstein, and other European financial centers have often been mentioned in these accounts.

The alleged system did not require accounts openly held under the name Castro. Critics claim the money could be hidden through shell companies, trusted intermediaries, front men, and state-linked banks.

One institution that has drawn attention is Banco Financiero Internacional, often known as BFI, a secretive Cuban financial institution associated by critics with the military-linked economic apparatus. Analysts have alleged that BFI helped capture and route hard currency through international banking channels, making the ultimate destination of funds difficult to trace.

That opacity is precisely why the Castro fortune has always been so hard to prove, or disprove.

So, How Rich Is The Castro Family?

The honest answer is that no one outside the regime knows for sure.

As you now know, 20 years ago, Forbes estimated Fidel Castro's personal fortune at $900 million. Today, we here at CelebrityNetWorth peg Raúl Castro's net worth at $100 million. But those individual figures may miss the larger point.

If the Castro family's wealth is measured by traditional personal assets, the number is murky, disputed, and extremely difficult to prove. If it is measured by control over military companies, tourism monopolies, foreign-currency retail networks, banks, ports, real estate, and offshore structures, the total value of the empire connected to the family and its inner circle could easily reach into the billions.

Read more: Lifting The Lid On The Castro Family's Alleged Shadow Empire Of Hotels, Banks, Yachts, And Hundreds Of Millions Of Dollars In Offshore Wealth