More than 4,400 current and former SpaceX employees are set to become millionaires as the company, founded by Elon Musk, prepares for its initial public offering this week at a share price of $135. The IPO marks the largest public debut ever by a private space company, valuing SpaceX at $1.77 trillion—five times the market capitalization of General Electric. Former launch engineer Trevor Heis, who joined SpaceX in 2011, holds over 100,000 shares now worth at least $13.5 million.
According to San Francisco-based investment platform Hill.com, around 400 of these employees will see their wealth exceed $100 million. Hill.com CEO Andrew Benson described this as an unusual outcome, noting that such wealth creation typically benefits only founders. The IPO is expected to transform the financial lives of thousands of SpaceX workers, both current and former.
Some early employees sold their shares years ago, doubting that SpaceX would ever go public. Others, like former supply manager Helvin Bacariza, plan to hold onto their shares even after the IPO, anticipating further growth.