Over 1,000 current and former employees seek lower fees for tax and wealth management services before the company’s public listing.
More than 1,000 SpaceX employees and alumni are negotiating bulk discounts on wealth management and tax-planning services as they prepare for a potential $20 billion equity windfall. The group aims to secure advisory fees below 0.5% of assets under management, down from the typical 1% industry standard.
Participants represent billions in combined equity holdings, with some estimates reaching $20 billion. They are evaluating over 20 advisory firms for services like direct indexing and equity-backed lending to minimize capital gains taxes ahead of the IPO.
The effort underscores the scale of wealth expected from SpaceX’s public debut, as employees seek institutional-grade financial tools typically reserved for ultra-high-net-worth investors.