SpaceX's I.P.O. Will Turn 4,400 Employees Into Millionaires
Elon Musk's rocket company is set to make its market debut, changing the lives of its current and former employees. Trevor Hise, a 37-year-old former SpaceX launch engineer, has accumulated over 100,000 shares from his 12-year tenure at the company. With the expected initial public offering price of $135 per share, his stock is likely worth at least $13.5 million.
Hise had joined SpaceX in 2011 as an intern, despite his parents' advice to take a job at General Electric. He stayed with the company for 12 years, earning shares as part of his compensation. The company's initial public offering is expected to be the largest ever, with a valuation of $1.77 trillion, five times that of General Electric.
The IPO is set to create significant wealth for SpaceX's 22,000 employees, as well as hundreds of former employees who own shares. Many of these individuals, including hourly workers and engineers, will gain life-changing wealth for the first time. Musk, who is likely to become the world's first trillionaire, and other investors, including Silicon Valley venture capitalists, will also reap significant benefits from the IPO.
Hise had joined SpaceX in 2011 as an intern, despite his parents' advice to take a job at General Electric. He stayed with the company for 12 years, earning shares as part of his compensation. The company's initial public offering is expected to be the largest ever, with a valuation of $1.77 trillion, five times that of General Electric.
The IPO is set to create significant wealth for SpaceX's 22,000 employees, as well as hundreds of former employees who own shares. Many of these individuals, including hourly workers and engineers, will gain life-changing wealth for the first time. Musk, who is likely to become the world's first trillionaire, and other investors, including Silicon Valley venture capitalists, will also reap significant benefits from the IPO.
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