SpaceX’s long-awaited jump to the stock market isn’t just poised to mint the world’s first trillionaire—it could also turn thousands of rank-and-file workers into millionaires, reports the New York Times. With the rocket company expected to debut at around a $1.77 trillion valuation and $135 a share, more than 4,400 current and former employees are projected to cross the seven-figure mark, according to analysis by investment platform Hill.com. Roughly 400 of them could see holdings of $100 million or more, an unusually broad payday in an IPO world where founders typically capture most of the upside. “Elon always said that, ‘Your salary is one thing, but it’s the equity that’s gonna be worth something,'” SpaceX’s first employee, Tom Mueller, tells Fox Business. “And we are all like, ‘Yeah, okay, someday. That day is here. It’s great.”
The windfall stems from years of compensation heavily weighted in stock, taken by everyone from launch engineers to hourly workers at SpaceX sites. Some employees periodically sold shares in private “liquidity events” to pay off mortgages or other expenses; others held tight, betting the company would eventually go public despite Elon Musk’s open misgivings about Wall Street scrutiny. SpaceX declined to comment, and employees will face lockup limits on when they can sell after the offering. Still, for thousands, the listing is shaping up as a once-in-a-generation wealth event—while those who traded early stock for quick cash or gift cards are now watching from the sidelines.
