Elon just created 4,400 millionaires in a single day.
400 of them are now worth over $100 million.
These aren't VCs. They're SpaceX employees, and the list includes welders, technicians, and cafeteria staff, because for two decades the company paid every level of the workforce in stock instead of higher salaries.
Juan Hernandez immigrated from Mexico and took a $28 an hour contractor welding job in 2015. He says he didn't even know what SpaceX was. The company gave him a $10,000 equity grant and let him buy more shares through payroll deductions. That stake is now worth $880,000.
Trevor Hise's parents wanted him to take a stable job at General Electric. He picked SpaceX instead, stayed 12 years, and accumulated over 100,000 shares. At the $135 listing price that's $13.5 million. He's 37 and semiretired. His words: "The magnitude of this has been ridiculous."
The most telling detail came before the listing. Over 100 employees quietly banded together and negotiated a group wealth management deal covering up to $5 billion, because none of them had ever needed a wealth manager before.
Software IPOs have minted millionaires for 30 years. This is the first one where the money went to the factory floor.
🇺🇸The brave Colonel is coming home after 48 hours of survival in hostile conditions. To the brave men that risked their own lives God bless you. Never leave comrade behind. Well done warriors.🇺🇸
🇺🇸Nothing Iran can do. When the Marines take the shore you’re out of luck. These men are truly weapons of war. The title Marine was never given but earned.🇺🇸
.@OhioState’s autumn 2021 dean’s list names 23,859 students who have achieved top grades for their work. The university has also released the list of graduates from autumn commencement, where 3,538 degrees were awarded. https://t.co/FLKireS9DT
@OhioStateNews@OhioState@OhioStateNews it sure would be great to see the deans list from Autumn semester posted! Lots of great news on the graduates, let’s know about the current ones! @PresKMJohnson 📚