TL;DRSpaceX’s IPO is expected to create over 4,000 new millionaires, from engineers to cafeteria workers. Pricing is set for Wednesday at $135/share, with a $1.8 trillion Nasdaq listing on Thursday.
More than 4,000 current and former SpaceX employees are expected to become millionaires when the company begins trading on Nasdaq this week, according to an analysis by Hill.com. Of those, approximately 400 are projected to hold stakes worth $100 million or more.
The wealth creation will not be limited to engineers and executives. SpaceX has historically compensated workers at every level, including cooks, welders, and cafeteria staff, with stock options rather than higher cash salaries, a bet on the company’s long-term value that is now about to pay out at a $1.8 trillion valuation.
The IPO numbers
SpaceX is offering 555.6 million shares at a fixed price of $135 each, raising approximately $75 billion in the largest IPO in history. Goldman Sachs is the lead underwriter, followed by Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase.
