Michael Grimes has rejoined Morgan Stanley (MS) as chairman of investment banking, positioning himself for a potential role in the anticipated IPO of Elon Musk’s SpaceX, The Wall Street Journal’s Corrie Driebusch and Becky Peterson reports. SpaceX’s valuation reached $1.25T after merging with xAI and is expected to raise tens of billions in an offering, the report notes. Grimes previously aided Tesla’s (TSLA) 2010 IPO and the 2022 acquisition of Twitter.
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