SpaceX IPO created thousands of employee millionaires, Musk says

SpaceX's June public listing turned stock holdings for several thousand employees into sums exceeding $1 million each, according to remarks made by the company's chief executive during a Wednesday interview. The chief executive said the company had distributed shares to production-line workers who joined relatively early, and that the roughly $2 trillion valuation after the IPO produced those gains.

He described the equity grants as a deliberate policy to align employee incentives with company performance.

Equity distribution and liquidity Employees received stock options upon joining, during annual reviews, and at promotions, a former worker told Business Insider. The same person said the company held private liquidity events roughly twice a year that allowed staff to sell portions of their holdings to the firm or outside investors.

Pre-IPO estimates from Hill Markets founder Andrew Benson projected the listing would create 4,400 new millionaires and more than 400 centimillionaires. SpaceX stock rose from its $135 IPO price to above $200 in the following days before closing below $148 on Wednesday.

Long-term plans The chief executive also outlined targets for lunar and Martian development. He said the company aims to establish a base on the moon within ten years and to enable thousands of people to travel there. The Starship vehicle is intended to deliver tens of thousands of tons of cargo to support a lunar city and, later, a settlement on Mars.

He added that, if development proceeds on schedule, the first crewed Mars mission could occur in about five years, with thousands of people traveling to the planet within ten to twelve years. SpaceX did not respond to a request for comment on the interview.