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.
SpaceX’s record-breaking market debut happened Friday morning, with first trades jumping as much as 30% to $176.52 per share after pricing at $135 in its Thursday IPO.
Max Touhey/Max Touhey
Throughout Friday, those at JPMorgan’s shiny new headquarters will be feeling the firm’s involvement with the blockbuster IPO. They’ll hear a space-themed playlist curated by DJ Yuna in the lobby and on the 14th floor, its core social area with coffee shops, gift shops, and restaurants. Servers on that floor will also be dressed in SpaceX garb.
SpaceX launch photos and videos have been on display across all 270 Park digital screens.
For the main event at 6 pm, guests will be taken to the 57th floor at the top of the tower for a dinner buffet with custom mirrors to add to the futuristic vibes. They’ll have the choices of the aforementioned steak, as well as sushi and a raw bar.
The bank is also using this as an opportunity to show off its extensive art and historical artifact collection, including documents signed by Alexander Hamilton and Thomas Jefferson, and Jamie Wyeth’s 1976 painting “The Man from Boston” of John F Kennedy’s historic 1962 “We Choose to Go to the Moon” speech at Rice University.
They’ll then be swept to a “dessert in the stars” cocktail reception, before the bank transforms the top of its skyscraper with a SpaceX-themed lightshow.
The rest of New York will be able to watch from their windows, likely while eating a less lavish meal.
