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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.
A man working as a welder at SpaceX for $28 an hour has just become a millionaire.
Juan Hernandez, who came from Mexico, welded rockets for SpaceX at $28 an hour.
SpaceX gave him $10,000 in stock when he went full time in 2015, and he bought more with every paycheck for 10 years.
$SPCX is now trading at $167, making his shares worth over $1 million.
๐ NBA FINALS BAD BEAT OF THE NIGHT (Game 2)๐
Needed Julian Champagnie 10+ points.
Finished with 8.
Every other leg in the 8-leg parlay hit ๐ญ
Pain level: 10/10
Congrats to @Mr_Mrs_Jackson on tonight's Bad Beat of the Night and the $50 prize ๐ธ
DM us to claim your winnings!
๐จ NBA FINALS BAD BEAT OF THE NIGHT - GAME 2 ๐จ
We're back.
Did your prop miss by 0.5?
Did a meaningless bucket ruin your slip?
Did overtime completely flip your night?
Did a player finish one stat short after everything else hit?
๐ธ Reply with a screenshot of your bad beat and tell us what happened.
๐ธ Prize: $50 Cash
๐ One winner selected after tonight's game
The more painful, the better ๐ญ
Let's see who takes home tonight's Bad Beat of the Night.