SpaceX's IPO will create 4,000 millionaires, including cooks.

      TL;DR: SpaceX’s upcoming IPO is projected to generate over 4,000 new millionaires, ranging from engineers to cafeteria staff. Shares are priced at $135 each, with the company set to be valued at $1.8 trillion upon its Nasdaq debut on Thursday.

      According to an analysis by Hill.com, more than 4,000 current and former SpaceX employees are anticipated to become millionaires when the company begins trading on Nasdaq this week. Around 400 individuals are expected to have holdings valued at $100 million or more.

      This wealth accumulation will extend beyond engineers and executives. SpaceX has historically awarded stock options to employees at all levels—including cooks, welders, and cafeteria workers—rather than opting for higher salaries, banking on the company’s long-term potential, which is now about to realize a $1.8 trillion valuation.

      Regarding the IPO details, SpaceX plans to offer 555.6 million shares at a set price of $135 each, aiming to raise about $75 billion, marking the largest IPO in history. Goldman Sachs is the lead underwriter, with Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase following.

      Pricing will occur after market close on Wednesday, with shares expected to start trading under the ticker SPCX on Nasdaq on Thursday. The offering has been significantly oversubscribed, with investors eager to acquire multiples of the available shares.

      SpaceX has long prioritized equity over higher salaries in its compensation strategy. Options given in 2025 had exercise prices of $37 and $42.40 per share, meaning those employees will see substantial gains based on the $135 listing price.

      This approach applies across the workforce, as non-technical staff received equity alongside engineers and essential personnel, which is atypical for a company of SpaceX's size and clarifies the wide-ranging potential for wealth creation.

      However, this windfall presents a challenge for some employees. A former employee has a stake worth $21.4 million, making up 93% of his household's investable net worth, revealing the concentration risk associated with years of equity-based pay.

      Over 100 current and former employees have established a low-fee wealth management collaboration with advisory firm Choreo, representing an estimated combined potential wealth of between $1 billion and $5 billion, specifically to prepare for the post-IPO liquidity event.

      The IPO is expected to spur a housing boom in South Texas, where SpaceX’s Starbase launch site is located near Brownsville. The average home price in Cameron County has more than doubled since SpaceX's arrival, increasing from roughly $131,000 in 2014 to over $281,000 in April 2026.

      Longtime residents are already experiencing affordability challenges as new SpaceX employees drive up prices. Should thousands of newly liquid millionaires invest in local real estate, the risk of displacement will further increase.

      It’s important to note that the estimate of 4,000 millionaires is based on Hill.com’s analysis and has not been confirmed by SpaceX. Actual outcomes will hinge on various factors, including the final listing price, employee vesting schedules, lockup periods, and individual tax circumstances.

      Lockup restrictions generally prevent employees from selling their shares for 90 to 180 days after the listing. While the wealth appears substantial on paper, it will remain inaccessible for months, and a decline in share price post-IPO during the lockup could diminish the actual realizable value for employees.

      Elon Musk will maintain over 82% voting control after the offering through super-voting shares, meaning the new millionaires will wield little influence over corporate decisions. The governance structure allows for broad economic benefits while confining decision-making authority.