SpaceX IPO Makes 4,000 Employees Millionaires, Including Contract and Cafeteria Workers
Updated
Updated · Fox News · Jun 22
SpaceX IPO Makes 4,000 Employees Millionaires, Including Contract and Cafeteria Workers
3 articles · Updated · Fox News · Jun 22
Summary
More than 4,000 SpaceX employees became paper millionaires after the company’s June 12 IPO, with gains extending beyond executives to cafeteria staff and contract workers.
Employee ownership drove that windfall: SpaceX used equity grants, stock options and stock-purchase programs to let workers share directly in the company’s rise.
Juan Hernandez, a contract welder who joined about a decade ago, said a stock grant in his pay package is now worth seven figures.
The outcome highlights a broader model in which companies use ownership stakes to align workers with growth, rather than concentrating IPO wealth solely at the top.