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SpaceX cafeteria workers poised to become millionaires after blockbuster IPO — 4,400 employees set to hit 7-figures
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With SpaceX’s IPO (NASDAQ: SPCX), much of the attention is on how much wealth it could create for Elon Musk, who is already the richest person in the world. But the listing isn’t just going to benefit Musk or other high-ranking executives. Ordinary workers are getting a substantial piece of the action, too.
According to an analysis by Hill.com cited by The New York Times (1), more than 4,400 current and former SpaceX employees are likely to become millionaires when the company goes public on June 12. Even more eye-popping: about 400 of them are expected to end up with $100 million or more.
SpaceX employees react to company's IPO
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Employees at SpaceX's facility in Hawthorne, California, share their thoughts on the company's initial public offering. (Splash News for Fox News Digital)
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Former SpaceX welder becomes a millionaire after historic IPO
Before Juan Hernandez became a welder at SpaceX, he had never heard of the company.
"It was just another contract job for me at the time," he told CBS News correspondent Jo Ling Kent in a broadcast exclusive interview.
Now, just over 10 years later, that leap of faith is paying off following the company's $75 billion initial public offering. Hernandez, who now works at Jeff Bezos-owned rocket startup Blue Origin, has roughly 6,500 SpaceX shares. On Friday, SpaceX stock closed at $160.95, valuing his holdings at $1,046,175.
SpaceX shares started trading on the Nasdaq late Friday morning under the ticker symbol SPCX, marking the long-awaited Wall Street debut of the rocket and satellite company.
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