JPMorgan is going all out for SpaceX employees, from a cake replica of its headquarters and plans to display rockets at the top of its skyscraper.
Cake Don; Leo Villareal Studio
A SpaceX-branded tomahawk steak carving station.That's the kind of extravagant detail JPMorgan put into a celebration for Elon Musk's rocket-making company's record-breaking public debut.JPMorgan is set to host around 250 SpaceX employees at its new Park Avenue headquarters for an intergalaxy-inspired evening with dinner and cocktails Friday, a source familiar with the bank's plan told Business Insider. The evening will be capped off with a specially curated light show at the top of the 60-story building, featuring rocket launches and space imagery.The lavish celebration was Jamie Dimon's idea. According to the person familiar with the plans, the JPMorgan CEO personally pitched it to Musk.But Dimon isn't just honoring one of the biggest IPOs in years; he's also rolling out the red carpet for hundreds of potential future wealth clients.JPMorgan is one of the top Wall Street banks running the books for the IPO, but it seems to be playing the long game by inviting SpaceX employees to its soiree. The event gives the firm a chance to deepen relationships with an exceptionally lucrative group of future customers. Andrew Benson, the founder of pre-IPO trading platform Hill Markets, estimates the offering will create roughly 4,400 new millionaires, including about 400 centimillionaires.While Musk isn't scheduled to join Dimon at the party, Gwynne Shotwell, SpaceX president, and CFO Bret Johnson are expected to be there and deliver remarks to the partygoers. JPMorgan's deal team and Mary Erdoes, who leads the asset and wealth management business for the bank, will also be there.
