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.
Tonight is Tom Skilling’s last air date on WGN-TV Channel 9 in Chicago. What a genuine, kind man he is man. It’s going to be extremely difficult to watch tonight. As of today, I still have tears in my eyes. Good luck in your retirement Tom! We all love you!
Nick Saban had an INSANE resume at Alabama:
• 6x national champion
• 9x SEC champion
• 206-29 career record in 17 seasons
But financially, it's even crazier.
The "Flutie Effect" is when athletic accomplishments increase exposure and, eventually, enrollment.
And no one did it bigger than Saban.
Since Nick Saban arrived in 2007, Alabama's enrollment has increased from 25,000 students to 40,000 students.
That's a 60% jump compared to a 10% national average.
But the *type* of student matters much more.
Alabama went from the majority of its student body consisting of in-state students to the majority now being from out-of-state.
This is important because those students pay 3x more in annual tuition — $32,000 vs. $11,000 — and it means Alabama increased its annual revenue by hundreds of millions under Nick Saban.
Alabama paid him $130 million over 16 seasons, but you could argue he was worth more than $1 billion.
“Nick Saban is the best investment this university has ever made," said Alabama Chancellor Robert Witt.
JUST IN: Evacuation warning has been issued in certain areas along the Pacific Coast Highway in California as the state continues to get rocked by massive waves.
The massive waves are caused by multiple storms throughout the Pacific.
Surfers are taking advantage, some traveling a mile off the coast to offshore oil rigs to surf massive waves.
This is insane.