Over 4,000 SpaceX employees could become millionaires, and about 400 people will receive over $100 million.
Photo: Spencer Platt/Getty Images
The company's record-breaking IPO (initial public offering) attracted billions of dollars, making Musk the first trillionaire in history. Over 4,000 SpaceX employees could become millionaires, and about 400 people will receive over $100 million, reported The New York Times (NYT) citing data from the investment platform Hill.com.
"In most IPOs, you typically see the founders become billionaires. It's unusual to have 400 people at this threshold [of wealth over $100 million]. This speaks to the enormous wealth being created here," said Andrew Benson, founder and CEO of Hill.com.
As NYT writes, among former SpaceX employees, one of those who benefited from the IPO was 42-year-old Gavin Petty, who joined the company in 2012 as an engineer with a salary of $80,000 per year and several thousand shares at $13.80 each.
For years, he received stock bonuses and kept most of them — now he owns over 50,000 shares, making him a millionaire.
"This IPO is the Coca-Cola or Google IPO of my time — a life-changing event that brings wealth similar to winning the lottery. I was so lucky to be involved in it," Petty said.
However, the newspaper notes, some employees did not believe that SpaceX would ever go public and sold their shares early. There were even rumors among employees that some of the company's first workers exchanged them for gift cards to restaurants like Chili's and now deeply regret it.
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