SpaceX IPO to mint 4,000 millionaires, cooks included
The Next Web • • business
Key Points:
- SpaceX’s upcoming IPO, priced at $135 per share with a $1.8 trillion valuation, is expected to create over 4,000 millionaires among current and former employees, including about 400 with stakes worth $100 million or more.
- The company’s compensation strategy has historically emphasized stock options for workers at all levels—from engineers to cafeteria staff—resulting in broad wealth creation across its workforce.
- SpaceX is offering 555.6 million shares in the largest IPO ever, raising approximately $75 billion, with Goldman Sachs leading the underwriting and shares set to trade on Nasdaq under ticker SPCX starting Thursday.
- The IPO is anticipated to spur a housing boom in South Texas near SpaceX’s Starbase facility, driving up home prices and raising concerns about affordability and displacement for longtime residents.
- While the projected wealth is significant, it remains largely illiquid due to lockup periods of 90 to 180 days post-IPO, and actual employee gains depend on final share price movements, vesting, and tax factors.