hot take (though maybe not on tech twitter): this is the example to emulate.
yes, elon became the world’s first trillionaire this week. but why should that fact alone move anyone — when he pulled 4,400 people, most of whom never expected to witness wealth like this, into that world with him? welders, technicians, cafeteria staff, paid in equity for two decades instead of higher salaries.
our entire economy is predicated on wealth not being zero-sum. i remain a tech evangelist because technology is the most direct path to the growth that makes that premise real — the actual engine behind any serious abundance agenda.
the instinct to read every fortune as something taken from someone else is the thing keeping us from building more of these.
Elon just created 4,400 millionaires in a single day.
400 of them are now worth over $100 million.
These aren't VCs. They're SpaceX employees, and the list includes welders, technicians, and cafeteria staff, because for two decades the company paid every level of the workforce in stock instead of higher salaries.
Juan Hernandez immigrated from Mexico and took a $28 an hour contractor welding job in 2015. He says he didn't even know what SpaceX was. The company gave him a $10,000 equity grant and let him buy more shares through payroll deductions. That stake is now worth $880,000.
Trevor Hise's parents wanted him to take a stable job at General Electric. He picked SpaceX instead, stayed 12 years, and accumulated over 100,000 shares. At the $135 listing price that's $13.5 million. He's 37 and semiretired. His words: "The magnitude of this has been ridiculous."
The most telling detail came before the listing. Over 100 employees quietly banded together and negotiated a group wealth management deal covering up to $5 billion, because none of them had ever needed a wealth manager before.
Software IPOs have minted millionaires for 30 years. This is the first one where the money went to the factory floor.