SpaceX elected Roelof Botha to its board of directors on Monday, less than a week after the company went public in the largest IPO on record.
According to an SEC filing, Botha was named an independent director effective immediately, filling a seat that had been vacant on the board. He will serve until SpaceX's next annual shareholder meeting. The board also appointed him to its audit committee.
In the filing, SpaceX described Botha as someone who "brings extensive public company experience along with a deep audit committee background, having served on the boards and audit committees of numerous public companies." The company also cited his financial, investment, and managerial experience.
The filing notes that Botha joined Sequoia Capital in 2003 and held a managing member role at Sequoia Capital Operations for roughly 18 years before stepping down in 2025. Before joining Sequoia, Botha spent three years at PayPal $PYPL, where he rose to CFO after being brought on board by Elon Musk; the two share South African roots, according to TechCrunch.
An undisclosed relative of Botha's has been employed at SpaceX since the start of 2025, working within the enterprise operations team, the filing reveals. SpaceX noted that the relative earned above the $120,000 level that triggers disclosure requirements, adding that their pay is "generally commensurate with their peers." SpaceX said there are no arrangements or understandings between Botha and any other persons related to his board selection.
According to CNBC, Botha stepped away from his leadership role at Sequoia last year and is joining the SpaceX board in a personal capacity rather than as a firm representative. Sequoia, which made its first SpaceX investment in 2019 and has since increased its position, now holds a stake of just under 1.5%.
SpaceX's board now has nine members. The other eight members include Musk, who holds the titles of chairman, CEO, and CTO; Gwynne Shotwell, the company's COO; and six directors — Ira Ehrenpreis, Antonio Gracias, Steve Jurvetson, Luke Nosek, Donald Harrison, and Randy Glein.
SpaceX raised $75 billion in its IPO, which set a new all-time record, surpassing Saudi Aramco's 2019 offering. The stock has risen around 50% since the company priced its IPO at $135 per share, pushing its market capitalization above $2.6 trillion. With over 82% of the voting rights concentrated in Musk's hands, investors who purchased shares in the IPO have virtually no mechanism to override his choices.