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.
The Valenti Show with Rico - There is no respect in the Michigan/Michiga... https://t.co/vtYJuGMH0r via @YouTube@971theticketxyt this has to be the most ridiculous take in radio history 😂😂 blaming Michigan for the tunnel curb stomp??
Check out my Raid Recap. Think you can do better? Use this link and get started and we'll both get a bunch of free rewards! https://t.co/mWhMGecS4V #3yearsRaid
Today, we announced Kofi Bonner’s joining Bedrock. From being born in Ghana to his work in the Bay Area & the Midwest, his impressive work experience will help bring a new perspective to our team. I look forward to working with him to positively impact Detroit and Cleveland.
So people voting in this greatest college basketball player poll on ESPN select Zion Williamson, who didn't get to the Final Four, over Danny Manning, who led his Kansas team to a title? People know NOTHING unless they saw it this morning on SportsCenter. #sad
Millions of people in the restaurant industry are out of work bc of #covıd19 including our @tomtomweho Family, twschwa and I are donating 100% of our earnings from cameo to our TomTom Staff & matching the amount up… https://t.co/BsV2hxAeRE
@Delta since my state is on lockdown how do I go about getting my money back / companion pass through my Amex account? Seeing to how I cannot go on this flight anymore?