SpaceX completed its public debut today in the largest IPO in history, and the wealth event rippling through its workforce is unprecedented. Priced at $135 a share for a staggering $1.77 trillion valuation, the listing is set to mint roughly 4,400 current and former employees as millionaires, according to an analysis by the investment platform Hill.com.
The remarkable part is how far down the org chart that wealth reaches. Because SpaceX has long paid employees heavily in equity across every tier, the windfall extends well beyond executives and engineers to blue-collar hourly workers, including welders, technicians, and launch-site crews who built the rockets by hand. About 400 staffers are projected to clear $100 million, becoming "centimillionaires," a breadth Hill.com CEO Andrew Benson called highly unusual. "You're usually only going to see the founders become billionaires," he said.
At the top, the figures are historic. Elon Musk, who owns roughly 42 percent of the company, vaults past the $1 trillion mark, making him the world's first trillionaire. Critics, including Oxfam, warned the offering deepens an already extreme concentration of wealth.
Sources: CNN, Fortune, Business Model Analyst.
SpaceX completed its public debut today in the largest IPO in history, and the wealth event rippling through its workforce is unprecedented. Priced at $135 a share for a staggering $1.77 trillion valuation, the listing is set to mint roughly 4,400 current and former employees as millionaires, according to an analysis by the investment platform Hill.com.
The remarkable part is how far down the org chart that wealth reaches. Because SpaceX has long paid employees heavily in equity across every tier, the windfall extends well beyond executives and engineers to blue-collar hourly workers, including welders, technicians, and launch-site crews who built the rockets by hand. About 400 staffers are projected to clear $100 million, becoming "centimillionaires," a breadth Hill.com CEO Andrew Benson called highly unusual. "You're usually only going to see the founders become billionaires," he said.
At the top, the figures are historic. Elon Musk, who owns roughly 42 percent of the company, vaults past the $1 trillion mark, making him the world's first trillionaire. Critics, including Oxfam, warned the offering deepens an already extreme concentration of wealth.
Sources: CNN, Fortune, Business Model Analyst.
