I noticed an interesting story about how one person has been holding one of the most ambitious projects in space for nearly 25 years. Gwynne Shotwell, President of SpaceX, is the figure who works behind the scenes, but so much depends on her. Musk founded the company in 2002, but it was she who turned the startup into a machine that is changing the space industry.

When I read about her career, one thing stands out: she started out as Vice President of Business Development, meeting with officials around the world. In 2008, when SpaceX received a NASA contract worth 1.6 billion dollars, Musk made her president. It was a moment when the company could have fallen apart, but it was her management that helped it survive.

Now Gwynne Shotwell faces the biggest challenge of all—preparing for an IPO. The company is aiming to go public in 2026 with a valuation of 1.5 trillion dollars. This could raise more than 30 billion, but it will also open the company up to public scrutiny like never before.

Her job is constant balancing. On the one hand, she manages relationships with NASA and other government agencies that need SpaceX. On the other, she works with a boss whose unpredictable style often causes problems. I remember an incident last past June, when Musk had a falling out with President Трамп and threatened to shut down the program for delivering to the МКС. Gwynne Shotwell had to urgently smooth everything over, convincing NASA officials that the company would handle it.

Her approach is to work quietly, relying on the trust she built over the years. Bill Нельсон, the former head of NASA, said about her: “I trust her very much. Because of this, I trust SpaceX.” These aren’t just words—this is the result of her years of work behind the scenes.

Under her leadership, SpaceX achieved the incredible: it learned to land and reuse rocket boosters, sent astronauts to the МКС for the first time in nine years after the shuttle program ended, and built Starlink—the largest satellite network in history. And all this time, she kept the company on course.

But serious challenges lie ahead. Starship, the two-stage rocket, failed in three test missions last year. NASA needs it to return to the Moon, and Musk wants it for Mars. At the same time, the company has taken on expenses of 20+ billion dollars to buy wireless spectrum and is experimenting with the idea of placing AI data processing centers in space.

What’s interesting is that Gwynne Shotwell gives her subordinates wide freedom to manage their areas. Many of her top managers stay with the company for years. But she makes difficult decisions when it’s necessary. As Кэти Людерс, the former head of SpaceX, said: “What’s wonderful about Gwynne is that she always steps in wherever the company needs help the most.”

The upcoming IPO is not just a financial event. It’s a test of whether Gwynne Shotwell can guide the company through the transition into public view, while preserving its culture of innovation and speed of development. After the IPO, she will work not behind the scenes, but under the bright spotlight of public attention. And it seems that this is her biggest challenge.