A former SpaceX welder has become a millionaire after the company’s historic stock market debut transformed an ordinary employee stock grant into a fortune worth more than ₹9.5 crore.

Juan Hernandez, who joined SpaceX in 2015 as a welder, said he initially knew very little about the company and viewed the role as just another contract job. What began as a position paying around $28 per hour eventually became a life-changing financial opportunity thanks to SpaceX’s employee stock ownership programme. 

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According to CBS News, Hernandez received approximately $10,000 (around ₹9.5 lakh) worth of company stock when he joined the Elon Musk-led aerospace giant. At the time, he did not pay much attention to the stock grant, as none of his previous employers had offered equity compensation.

The value of those shares skyrocketed following SpaceX’s record-breaking Initial Public Offering (IPO). Hernandez now owns around 6,500 shares of the company. With SpaceX stock closing at $160.95 on its debut, his stake is estimated to be worth more than $1 million, or roughly ₹9.5 crore.

During his nearly decade-long time at SpaceX, Hernandez worked on launch infrastructure projects and later advanced into a supervisory role. He has credited employee ownership with creating a stronger sense of responsibility among workers, saying employees feel more invested in the company’s success when they own a piece of it. 

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Hernandez has since left SpaceX and is now teaching his three kids. However, he says the unexpected windfall has placed him in a comfortable financial position for life. In 2020, he even sold part of his SpaceX stake to launch a small real-estate business in Texas. 

The story is one of thousands emerging from SpaceX’s landmark IPO. Reports suggest the public offering, which raised a record $75 billion and valued the company at nearly $1.8 trillion, has created more than 4,400 employee millionaires. Around 400 current and former employees are believed to hold stock worth over $100 million. 

Published on: Jun 15, 2026 3:05 PM IST