SpaceX's IPO just turned thousands of employees into millionaires
SpaceX's historic $2 trillion IPO is starting to pay out, literally. Shares are being released in stages, the first 20% hitting August 6, and early employees like engineer Andre Lavoie, who took stock instead of salary back in 2009, are suddenly sitting on tens of millions. Musk himself claims the listing minted thousands of new millionaires, even assembly line workers. But the company just posted a $143m quarterly loss and shares tumbled on AI spending fears, so cashing out early might be the smartest move on the cap table.
Nothing says 'stable business' like turning your factory floor into a millionaire mill while bleeding cash on AI.