Thousands Of SpaceX Workers To Be Millionaires After IPO
Patch • • business
Key Points:
- Over 4,400 current and former SpaceX employees, including white-collar workers, technicians, and service staff, are expected to become millionaires following the company's anticipated IPO this week, with about 400 projected to earn at least $100 million each.
- SpaceX's IPO is expected to price shares at $135 each, valuing the company at approximately $1.77 trillion, potentially making it the largest stock market debut ever and raising up to $75 billion.
- The company's valuation surged from $800 billion last year to $1.25 trillion after merging with Elon Musk’s AI company xAI, despite SpaceX and xAI reporting significant operational losses in the previous year.
- Employees like Juan Hernandez, a former welder, and J. André Lavoie, a former engineer, are set to benefit substantially from their equity stakes, with some planning to invest their gains in personal ventures and community projects.
- The IPO positions Elon Musk to potentially become the world's first trillionaire, though insiders and workers will face restrictions on selling pre-IPO shares for several months.