SpaceX Employee Sees Fortune Grow with IPO

Juan Hernandez, once unfamiliar with the company SpaceX, has seen his fortunes change dramatically. During an exclusive interview with CBS News correspondent Jo Ling Kent, he shared his journey. Hernandez, who initially took a welding job with SpaceX without much prior knowledge of the firm, is now poised to gain significantly from the company’s successful $75 billion IPO.

SpaceX’s shares debuted on Nasdaq with the ticker SPCX. Hernandez, who began working at the company in 2015, received $10,000 in stock as part of his employment package, a perk he didn’t think much of at the time.

Joining SpaceX

A friend who noticed Hernandez’s welding skills recommended him for a position at SpaceX. Hernandez recalls thinking, “I don’t know what SpaceX is, but let’s go.” Since then, his journey has been noteworthy, rising through the ranks to become a supervisor, overseeing the construction of key rocket-launch structures.

IPO Fortune

Hernandez now holds about 6,500 SpaceX shares. With the IPO share price at $135, his wealth might increase by nearly $880,000, and probably even more based on trading performance. Hernandez’s story exemplifies how employee stock options can transform lives, granting them a stake and a sense of ownership in the company.

Focus on Family and Future

Despite his financial windfall, Hernandez remains grounded. An immigrant who values hard work, he plans to continue working and passing on his values to his children. He’s teaching his kids about investing, with his 16-year-old daughter already owning shares in various companies.

Hernandez expressed gratitude to SpaceX’s founder, Elon Musk, for opening up opportunities. “He made it a possibility for somebody like us,” Hernandez noted, emphasizing how the company’s success also elevates the lives of its employees and their families.

This journey of success from modest beginnings highlights the impact of strategic employee benefits and visionary leadership.