Top investment banker Michael Grimes, known in Silicon Valley as the "Godfather of Tech Investment Banking," is returning to Morgan Stanley to assume the role of Chairman of Investment Banking. Media reports suggest his return positions Morgan Stanley favorably for involvement in SpaceX's potential $1.5 trillion initial public offering. Morgan Stanley, alongside Bank of America, JPMorgan Chase, and Goldman Sachs, is anticipated to be a lead underwriter for the SpaceX IPO. Morgan Stanley stated that Grimes will leverage his expertise in his new position, overseeing "the entire bank and institutional securities business, particularly in the context of technology transforming productivity and influencing global industrial policy." Records indicate Grimes joined Morgan Stanley in 1995 and worked there for nearly three decades. His final role at the firm was Global Co-Head of Technology Investment Banking. As a prominent tech banker, he is a key figure in Silicon Valley. He led or participated in several significant deals, including IPOs for Google, Facebook, Airbnb, LinkedIn, Uber, and Snowflake, as well as mergers and acquisitions such as Facebook's purchase of Instagram, Microsoft's acquisition of LinkedIn, SoftBank's investment in Uber, Google's purchase of Motorola Mobility, NVIDIA's acquisition of Arm, eBay's buyout of PayPal, and Elon Musk's takeover of Twitter. Furthermore, he has established a strong connection with Elon Musk. Grimes assisted Musk with Tesla's IPO in 2010 and helped facilitate the acquisition of Twitter in 2022. According to a SpaceX investor acquainted with both individuals, Grimes is one of the few bankers "tolerated" by the unpredictable entrepreneur. Morgan Stanley's relationship with Musk is deeply rooted; both Musk's wealth manager, Jared Birchall, and xAI's Chief Financial Officer, Anthony Armstrong, are former Morgan Stanley employees.