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.
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It is very nice all the Elon’s companies congratulating the successful launch of Robotaxi — from SpaceX, Neuralink, xAI/X and Boring.
It means a lot.
You rarely see that from other companies. In my past experience, Android rarely cheered on YouTube launch or Ads seldomly congratulated Clouds. Everyone was worrying if their launch would be counted as the next promotion packages. Thus, while all the orgs are within the same company, they were competing for the same spotlights.
In contrast, you genuinely see Tesla employees cheering on SpaceX rockets and SpaceX employees congratulated our success. There were Tesla employees would drive all the way to Starbase for the Starship.
Fundamentally deep in our hearts, we knew how hard it was to solve the problems of centuries, and the sweat and tears along with it.
That is something you don’t see in other corporate politics — the rare joy of sharing the success.
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