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.
8 months ago today, crypto went through its biggest "mysterious" crash, and we still have no real explanation for it.
In just minutes:
Over $20 BILLION in positions were liquidated.
Nearly $900 BILLION in market value was wiped out.
Large caps dropped 60-70% almost instantly.
Traders were wiped out. Portfolios were destroyed. Confidence in the market took a heavy hit. And to this day, nobody knows what really happened.
Since then, crypto has felt different. It's almost disconnected from the rest of global markets, with every rally fading fast, even on good news.
Now I just hope the Clarity Act gets signed into law soon, so we can finally put an end to this manipulation.
JUST IN: 🇺🇸 Former President Joe Biden's son, Hunter Biden, says "fiat is a sham, the banking class is corrupt."
"Decentralized digital currency and the blockchain are the inevitable future."
JUST IN: JIM CRAMER JUST SAID HE IS "REEVALUATING HIS PRO-#BITCOIN STANCE"
THE MOST RELIABLE INVERSE INDICATOR ON WALL STREET JUST FLIPPED BEARISH
WE'RE SO BACK 🚀🚀