SpaceX is set to go public on June 12, with approximately 4,400 current and former employees expected to become millionaires as a result of the initial public offering (IPO). The New York Times reported on June 10 that the IPO will transform the financial lives of the aerospace company's workforce, while founder Elon Musk is projected to become the world's first trillionaire. Investment platform Hill.com analyzed that over 4,400 SpaceX employees will likely achieve millionaire status, with around 400 earning more than $100 million. The IPO represents a historic wealth creation event in the private space industry, with the company's valuation expected to reach $1.77 trillion — five times the market capitalization of General Electric.
SpaceX Employees to Gain Millionaire Status Through IPO
Hill.com projected that more than 4,400 current and former SpaceX employees will become millionaires when the company goes public. Approximately 400 of these employees are expected to earn over $100 million each. The New York Times cited the example of a 37-year-old employee who has worked at SpaceX for 12 years. If SpaceX lists at $135 per share, this employee's holdings of over 100,000 company shares would be worth at least $13.5 million (approximately 20.6 billion Korean won).
Andrew Benson, founder and CEO of Hill.com, stated that having 400 people earn over $100 million in an IPO is extremely rare. Benson described this as demonstrating the tremendous wealth SpaceX is creating.
Company Valuation Reaches $1.77 Trillion at IPO Price
SpaceX is expected to set records for both offering size and market capitalization in its public listing. The company's enterprise value upon successful listing is projected to reach $1.77 trillion, which is five times the market capitalization of General Electric. The IPO price is set at $135 per share.
Early Employees Traded Stock for Restaurant Vouchers
Rumors have circulated that some employees who initially doubted SpaceX's listing prospects exchanged their company stock for restaurant vouchers during the company's early days. These employees are now reported to regret their decision, according to the source report.
FAQ
How many SpaceX employees will become millionaires from the IPO?
Approximately 4,400 current and former SpaceX employees are expected to become millionaires when the company goes public on June 12. Investment platform Hill.com analyzed that around 400 of these employees will earn over $100 million each.
What is SpaceX's expected valuation at IPO?
SpaceX's enterprise value is projected to reach $1.77 trillion upon successful listing, which is five times the market capitalization of General Electric. The company is set to list at $135 per share.
