On 11/6, billionaire Elon Musk's rocket and spacecraft manufacturer SpaceX finalized its IPO price at 135 USD per share, raising 75 billion USD. This marks the largest listing in US market history.

This development is expected to make over 4,400 current and former SpaceX employees millionaires, according to an analysis by the San Francisco-based investment platform Hill. Among these, approximately 400 individuals are projected to hold assets valued at 100 million USD or more.

Andrew Benson, founder and CEO of Hill, noted the rarity of this outcome. "In most IPOs, typically only the founder becomes a billionaire. Having up to 400 people hold shares valued over 100 million USD is rare, demonstrating the immense wealth created here," he said.

SpaceX currently employs about 22,000 people. Hundreds of individuals have also left the company over the years. This group includes engineers who spent days in windowless offices at SpaceX's industrial complex in South Texas and hourly workers at rocket launch sites.

SpaceX rocket logo outside the facility in Hawthorne, California on 3/6. Photo: AFP

For many, their dedication is set to be rewarded through the stock received as part of their compensation. Tom Mueller, SpaceX's first employee, joined in 2002. He led projects developing the Merlin engine for the Falcon 9 rocket, the Raptor engine for Starship, and other critical propulsion systems. Mueller described the IPO as a "life-changing" event.

"Elon always said salary is only one part; stock is what truly holds value. At the time, we all thought that day would come, and now it's here. It's wonderful," he stated. To celebrate, Mueller and the early employees plan to host a small party and ring a bell to mark the company's IPO.

Mueller characterized Elon Musk's corporate culture as an energy source driving innovation, focusing on developing products people genuinely want to create. "The work is challenging but very rewarding," he added.

Trevor Hise, 37, worked at SpaceX for 12 years and currently owns over 100,000 company shares. At the anticipated IPO price, his assets will be worth at least 13.5 million USD. "This is unbelievable," commented Hise, a former rocket launch engineer who is now semi-retired.

Beyond its employees, SpaceX's IPO could position Elon Musk to become the world's first trillion-dollar billionaire. Musk's net worth is estimated to increase by 26%, from 793 billion USD to 1 trillion USD, largely due to the value of his shares in SpaceX and Tesla. Additionally, Musk's friends, venture capital, and private equity funds in Silicon Valley that invested in SpaceX are also set to earn billions of USD.

SpaceX is currently valued at approximately 1.77 trillion USD, based on 13.08 billion outstanding shares. This valuation could rise further if underwriters exercise their option to sell additional shares within 30 days post-IPO. Major investors and many corporations are eagerly awaiting SpaceX's debut. According to The Wall Street Journal, BlackRock has ordered at least 5 billion USD worth of shares.

Phien An (according to Fox, Reuters, NYT)