Kathmandu. Elon Musk’s SpaceX, the world’s richest man, has launched its IPO on June 12. This is the world’s largest IPO. According to reports, more than 4,400 employees of SpaceX did not immediately become millionaires after the stock market was listed.
SpaceX’s IPO is priced at $135 per share. At this stage, Musk’s company would be valued at about $1.77 trillion. Which will put it at the top of the list of the world’s largest IPOs. The company plans to raise up to $75 billion through the IPO.
SpaceX employees are wealthy
Elon Musk’s rocket company is set to debut on the biggest stock market in history and thousands of incumbents and former employees are expected to benefit significantly.
According to the New York Times, more than 4,400 current and former employees could join the list of millionaires if SpaceX were to come up with an estimated valuation.
According to the report, former employees can have at least 10 lakh units of shares. More importantly, about 400 employees may have assets of more than $100 million.
Salary plus Company Stakes{
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While other large companies rely heavily on employee salaries, SpaceX is different and has historically gifted employees a significant stake in the company. Simply put, employees get a salary as well as a stake in the company.
Over the years, as the company’s valuation has soared, so has their share price. It has been a life-changing experience for the employees who joined SpaceX at its inception. –Agency
