SpaceX, employees ready to cash in share shares with IPO

Thousands of employees of SpaceXcurrent and former, are preparing to cash in on the value of their shares on the eve of the biggest one Ipo ever. In fact, the technicians who build the rockets and the paid employees, including for example bartenders, who work on the company’s campuses in California, Texas and Florida will also benefit from the market debut of Elon Musk’s company.

Some, the Wall Street Journal reports, retained packages that at the time of assignment were worth less than $2 per share, when the company had not yet landed a single rocket. THE stock splits that occurred over the years therefore multiplied the shareholdings, while the value of the company rose dramatically. To avoid a sudden wave of selling, employees and other insiders will not be able to divest themselves of pre-IPO shares for a few months, but some clauses could allow small amounts to be sold as early as July.

Waiting for SpaceX to land on Wall Street

The American media report several stories of workers who are anxiously awaiting the disembarkation Wall Street.

The case of André Lavoie

André Lavoie, former engineer at SpaceXmoved to northern Italy five years ago and bought a hotel in Pontebba, which he is renovating. The shares he received years ago will put him in position to collect more than $28 million at the IPO price. “Every year the shares have risen so much that they continually mess up my life plans,” he told the WSJ.

Maryellyn Musselman’s Choice

Maryellyn Musselman, 27, still doesn’t know if she’ll sell her shares right away. “I think it will be a last minute decision,” he explained. Entry into SpaceX in 2022 as an engineer officer on a ship recovering pieces of rockets that fell into the ocean off the coast of Florida, in his two years with the company he allocated 10% of his salary to buying shares, in addition to those received as part of his salary.

The story of Juan Hernandez

Among those whose lives have already changed thanks to the first ones actions there is Juan Hernandez, who immigrated to the United States from Mexico. “I didn’t even know what SpaceX was when my friend told me about it, but the money was enough at the time,” Hernandez, 42, recalled. He started as a freelancer at $28 an hour, then was hired full time and got a stock stake worth $10,000, vested over five years. Like other employees, he chose to use part of his salary to buy more shares.

Investments and life changes

Other former employees interviewed by the Wall Street Journal said they sold shares to pay off their spouse’s student loans, buy their parents a vacation home, cover the cost of fertility treatments or start their dream business.