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.
John Healey, the former Defence Secretary, has acted honourably by resigning.
Keir Starmer is too weak to cut welfare and fund defence - as I told him yesterday at PMQs.
Only the Conservatives have a plan to put our national security first.
#SSIT once more into the void ... From the SSIT call the CEO said they would be entering the ftse250 "... during the course of this week. we think this is a very +ve step for Seraphim..." But hey... let's mark this name down 8% today, because I don't look at forwards...
@BezosRic Trade it versus a trailing 3 month NAV on conservative assumptions if you must. But I personally wouldn’t choose to do that. This ain’t a regular closed end fund owning low growth public listed stocks marked to market daily. This is a different kind of rodeo. #ssit
#SSIT Seraphim Space results out and they have published their new Mar31 NAV. 177.63p +25% odd ... but remember this is the MARCH NAV... its JUNE... $PL (the closest comp to ICEYE) is up 100% since its March 31 close. So... what do you estimate SSIT CURRENT NAV is?
More domestic gas will displace expensive LNG imports and so reduce prices. More oil and gas will reduce the trade deficit, create high paying jobs, increase GDP, reduce emissions and generate tax revenue.
🚨 WOW! Scott Bessent just revealed the IRS has moved to make NGOs LIABLE for violent activity committed by their grant recipients like Antifa
George Soros has been put on NOTICE.
"The IRS is now giving guidance on the Form 990, which nonprofits they have to file. We are going to DEMAND that nonprofits know their grant recipients."
"So if a grant recipient is violent, if they are suppressing people's rights, then YOU are responsible for that."
As for the for the investigation into who is funding Antifa terrorism:
"We made substantial progress. And I think in the weeks and months ahead, we are going to have a lot to report."
“I always said I was anti-Zionist but not antisemitic”
Taryn Thomas used to join campus protests at Stanford where students called Israel’s war with Hamas a genocide.
Then, she attended the Nova exhibit, and learned for the first time about what actually happened on October 7th.
Now, she realizes, those protests “had already decided how the story was going to end,” before Israel even responded to the massacre.
This is exactly why Free Palestine protests the Nova exhibit wherever it opens.
They are afraid that if more people learn the truth, their movement will run out of support.
Video Credit: GB News