Sequoia’s Roelof Botha joins SpaceX board after record IPO

SpaceX said it had elected Roelof Botha, a long-time Sequoia Capital investor, to join the board as an independent director, less than a week after the Elon Musk-led company’s record-setting initial public offering.

Botha would be joining as an independent director and be part of the audit committee effective immediately, according to a SpaceX filing on Wednesday.

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Botha, a South African like Musk, was PayPal Holdings’ chief financial officer when Musk was CEO more than two decades ago. He’s been at Sequoia since 2003 – a venture capital firm that first backed SpaceX at the end of 2019.

Sequoia owns about 1.5% of the company, Bloomberg reported, and had also invested in X, the social media network formerly known as Twitter that Musk acquired in 2022. X and xAI have since been folded into SpaceX.

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Botha is the latest investor to join SpaceX’s board, with other names including Antonio Gracias, founder of Valor Equity Partners, Luke Nosek and Steve Jurvetson.

Musk’s company made history with its $75 billion IPO last week, instantly making it one of the biggest public companies in the world. It also boosted Musk’s personal fortune as well as that of those who backed him.

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