Goldman Sachs has prearranged a $450m charitable donation funded by revenue it earned from wealthy clients’ gains in SpaceX’s record IPO. The bank disclosed the payment as a separate special charge in its third-quarter results, saying it reduced diluted EPS by about $1. Goldman helped wealthy clients invest in SpaceX more than five years ago; SpaceX listed earlier this year at a $1.77tln valuation, producing large client gains and leaving Goldman with hundreds of millions of dollars in related r

Goldman Sachs has prearranged a $450m charitable donation funded by revenue it earned from wealthy clients’ gains in SpaceX’s record IPO. The bank disclosed the payment as a separate special charge in its third-quarter results, saying it reduced diluted EPS by about $1. Goldman helped wealthy clients invest in SpaceX more than five years ago; SpaceX listed earlier this year at a $1.77tln valuation, producing large client gains and leaving Goldman with hundreds of millions of dollars in related revenue. CEO David Solomon signaled in September the bank might use the windfall to accelerate philanthropy for tax efficiency.