Nearly 400 of them have surpassed US$100 million.
They are not bankers or venture capitalists. They are SpaceX employees: welders, technicians, mechanics, and even cafeteria workers. For twenty years, the company has paid people at all levels with stock options, not just high salaries. Those who produced, reaped the rewards.
Juan Hernandez, a Mexican immigrant, accepted a job as a welder for US$28 an hour in 2015, without even really knowing what SpaceX was. He received a small stake of US$10,000 and was able to buy more through payroll deductions. Today his share is worth US$880,000.
Trevor Hise ignored his parents' advice to take a "safe" job at General Electric. He chose SpaceX, stayed for 12 years, and accumulated more than 100,000 shares. At the listing price, that's US$13.5 million. At 37, he is already eligible for retirement. His words: “The magnitude of this is ridiculous.”
The most telling detail came even before the IPO: more than 100 employees quietly joined forces to hire a wealth management firm capable of handling up to US$5 billion. Many had never needed a wealth manager in their lives.
For decades, tech company IPOs have enriched programmers. This time, the money reached the factory floor. This is true capitalism: those who take risks, those who work, and those who deliver value reap proportional rewards.
GOD BLESS AMERICA!! 🇺🇸
Happy for these folks!!
This is really cool