A former SpaceX employee’s equity grant surged in value after the company’s $75 billion public debut, closing at $160.95 per share.
A Mexican immigrant who joined SpaceX as a welder earning $28 per hour saw his $10,000 equity grant grow to over $1 million following the company’s IPO. Juan Hernandez received the stake after being hired full-time in 2015, unaware of its potential value at the time.
SpaceX’s public debut valued the company at $75 billion, with shares closing at $160.95 on Friday. Hernandez’s 6,500 shares are now worth more than $1 million, though the stock previously peaked at $225.64 on June 16.
The windfall reflects broader gains for SpaceX employees, with former staff using stock proceeds for major financial milestones, according to reports.