Thousands of SpaceX Employees Expected to Become Millionaires After IPO
An analysis suggests that more than 4,400 current and former SpaceX staff could see holdings worth at least $1 million when the company launches its initial public offering.
An analysis by investment platform Hill.com, cited by The New York Times, indicates that over 4,400 of SpaceX’s roughly 22,000 current and former employees are likely to become millionaires when the company goes public, with about 400 projected to hold stakes worth $100 million or more. The potential shareholders include a range of roles, from white-collar staff to technicians and service workers at the company’s campuses in California, Florida and Texas, according to The Wall Street Journal.
The IPO is expected to price shares at $135 each, valuing SpaceX at roughly $1.77 trillion and raising up to $75 billion, which would surpass the record set by Saudi Aramco’s 2019 offering. The company, valued at $800 billion last year, rose to $1.25 trillion after merging with Elon Musk’s artificial-intelligence venture xAI in February.
“It’s put me in a comfortable position for life,” said Juan Hernandez, a former welder who left SpaceX last year and expects his shares to be worth about $880,000 at the IPO price.
“I don’t want to just die with a pile of money in the bank,” said former engineer J. André Lavoie, whose stake is valued at over $28 million.
SpaceX reported an operating loss of $2.6 billion on $18.7 billion of revenue last year, while xAI recorded a $6.4 billion loss. Despite the losses, the planned offering could become one of the largest stock market debuts in history.
