With the IPO of SpaceX (formally Space Exploration Technologies Corp; $SPCX) June 12, there has been endless commentary on Elon Musk’s status as the world’s first U.S.-dollar trillionaire.But in my eyes, his greatest accomplishment in wealth creation is not what he has done for his own wealth, but what he has done for others.It’s been reported that in going public, SpaceX has created wealth not just for Musk, but for many employees.
In fact, it is estimated that going public has made millionaires (at least on paper) of more than 4,000 SpaceX employees, which includes not just high-level executives, but employees in roles from cafeteria workers to contract workers.Wealth is inextricably tied to ownership of assets, ideally assets that have the opportunity to appreciate in value.By allowing employees to participate in ownership of the company for which they work, they have an incentive to do their part in making the company successful, knowing that they will derive some of that benefit.Whether that is structured as equity grants, options and/or stock purchase programs, it’s not just one person getting wealthy, it’s a whole team of people.LIZ PEEK: ELON MUSK’S WELL-DESERVED WIN CAUSES THE ZERO-SUM LEFT TO FREAK OUTMusk says space will soon be the lowest-cost place to power artificial intelligence, citing constant solar energy in orbit.
(Photo by Aubrey Gemignani/NASA via Getty Images)That’s exactly what SpaceX has done for its team.In a time when corporations are deemed "greedy" by the mainstream media and progressive politicians, where ownership of tangible items is being replaced by subscriptions, and where government deficits and Fed money printing have degraded purchasing power, it is refreshing to see loyal, hardworking Americans across job functions be able to participate in authentic wealth creation for themselves and their families.About a decade ago, Juan Hernandez took a contract welder job at a company with which he was not familiar — Space...