'Better terms, better pricing': SpaceX employees band together to get primo pricing for tax-saving advice as they prepare to make millions

The employees’ goal is to secure financial advice for less than 0.5% of assets under management, roughly half of the traditional 1% advisory fee. Bloomberg reports the group has evaluated more than 20 advisory firms and is pursuing services ranging from direct indexing to equity-backed lending strategies that could help them access cash without immediately triggering large capital gains taxes.

The effort reflects the enormous wealth expected to be created by the IPO. Employees participating in the discussions reportedly represent billions of dollars in equity holdings, and some estimates place the group’s combined assets at as much as $20 billion.

A historic IPO is getting closer

The urgency comes as SpaceX moves closer to what could become the largest IPO in history.

Reuters reports the company plans to price shares at $135 each, raising approximately $75 billion and valuing the company at roughly $1.75 trillion. The offering is expected to begin trading on Nasdaq under the ticker symbol SPCX on June 12.

The company publicly filed IPO paperwork in May, revealing billions of dollars in losses but also highlighting the rapid growth of its Starlink satellite business and its ambitions in artificial intelligence and satellite communications. Bloomberg previously reported that the company is pursuing a valuation approaching $1.8 trillion, making it one of the most valuable publicly traded companies in the world from day one.

SpaceX has also emphasized stock-based compensation as a key part of employee pay. That means many engineers, managers and other workers could suddenly find themselves holding stock positions worth millions once shares become publicly tradable.

The situation could become a blueprint for employees at other high-profile private companies, including OpenAI and Anthropic, as they move toward eventual public offerings.

How to handle a steep rise in income

While becoming a millionaire overnight may sound simple, sudden wealth can create new risks.