SpaceX’s Wall Street Debut
Before Juan Hernandez became a welder at SpaceX, he had not heard of the company. “It was just another contract job for me at the time,” he told CBS News correspondent Jo Ling Kent in an exclusive interview. Now, over ten years later, that decision could yield significant returns following the company’s $75 billion initial public offering (IPO). This record-breaking IPO might make Hernandez a millionaire by the end of the day.
SpaceX shares began trading on the Nasdaq Friday under the ticker symbol SPCX, marking the much-anticipated Wall Street entry of the rocket and satellite company. The introduction of SpaceX to the public market solidifies its standing as a major player in the industry.
From Contract Job to Wealth Growth
Hernandez learned about SpaceX from a friend who had joined as a welder. His friend recognized Hernandez’s background and predicted he would excel in the job. “I thought in my head, I don’t know what SpaceX is, but let’s go,” Hernandez expressed.
When SpaceX hired him in 2015, they offered him $10,000 worth of stock. At that time, he underestimated its significance. “It wasn’t a big deal. I didn’t know anything about it then,” he told CBS News. His earlier positions, where he earned hourly wages, never included stock offers.
Climbing the Ladder at SpaceX
Though Hernandez now works at Blue Origin, he owns around 6,500 SpaceX shares. If these trade at the offering price of $135, his wealth could increase by nearly $880,000. Considering the stock performance on Friday, he is likely to earn even more.
During his decade with SpaceX, Hernandez progressed from welding rockets to a supervisory role. He constructed the structures that supported rockets on the launch pad. As an employee, he noted that having a stake in the company motivates individuals to succeed. “They will perform a lot better because, I mean, it is their company as well,” he commented.
Staying Grounded Despite Success
Despite this transformative event, Hernandez remains humble. As an immigrant, he learned to work hard, and his new wealth won’t change that. He intends to continue working and pass his lessons onto his children.
Hernandez actively teaches his three kids about investing, applying insights gained from owning SpaceX stock. His 16-year-old daughter already invests in companies like Meta, displaying entrepreneurial spirit. “She’s a little entrepreneur herself,” he remarked.
Grateful for the Opportunities
Given the opportunity to speak to Elon Musk, Hernandez would express gratitude for realizing a dream he never anticipated. “He made it a possibility for somebody like us, you know, the cook or…electrician,” he shared. “He’s making all these lives much better and meaningful for their families as well.”