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.
BREAKING: Elon Musk says when he launched SpaceX, $SPCX, he gave the company "less than a 10% chance" of succeeding.
Today, SpaceX is debuting the largest IPO in history, which is 2.5 TIMES larger than the previous largest IPO.
Last week, Mark flew his private jet to Toronto, so he could tour a grocery store in Brampton.
It appears that neither him or his wife have ever been in an actual grocery store.
He burned roughly 2,500 litres of jet fuel, and emitted more than 5,000kg of carbon on this trip.
Imagine working half the year just to have that money basically STOLEN by the government 🇨🇦 Sometimes more than 50% goes to TAXES, for things I don’t even agree with
Wait, I don’t have to imagine, because I live in Canada 😒 AND, you might not even have a family DR