A former SpaceX welder is heading into the company’s IPO with a life-changing payday.
Juan Hernandez, who immigrated from Mexico and joined SpaceX as a contractor in 2015, reportedly holds stock worth about $880,000 ahead of the company’s public debut. According to a Wall Street Journal profile, Hernandez built the stake from a $10,000 equity grant he received after joining the aerospace company.
The story has become a buzzy human-interest story surrounding SpaceX’s record-breaking IPO, which is expected to value the company at roughly $1.77 trillion. SpaceX plans to sell 555.6 million shares at $135 each under the ticker SPCX, targeting a massive $75 billion raise.
Hernandez started at SpaceX earning $28 per hour before moving into a full-time position. Along with stock that vested over five years, he continued building his ownership stake by purchasing additional shares through payroll deductions, according to Be In Crypto.
The former SpaceX employee sold part of his holdings in 2020 to purchase property in Texas. Even after that sale, the value of his remaining shares has continued to climb.
“It’s put me in a comfortable position for life,” Hernandez said in the WSJ profile.
Hernandez isn’t the only employee expected to benefit. Justin Lopas, co-founder and COO of Base Power and a former SpaceX employee, recently said on X that many of the company’s welders and technicians are poised to walk away with six- or seven-figure stock holdings.
Posted To:Human Interest SpaceX
