Jun 3, 2026
Thousands of current and former SpaceX employees are preparing for a financial event that few workers ever experience: a potential windfall worth millions of dollars.
According to a recent Bloomberg report, more than 1,000 current and former employees have joined forces to negotiate discounted access to wealth managers, private banks and sophisticated tax-planning strategies ahead of SpaceX’s highly anticipated initial public offering (IPO). Rather than hiring advisers individually, the group is using its collective bargaining power to seek lower fees and access to financial products typically reserved for ultra-high-net-worth investors.
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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.
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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.
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How to handle a steep rise in income
While becoming a millionaire overnight may sound simple, sudden wealth can create new risks.
The Financial Industry Regulatory Authority (FINRA) advises people who receive a large financial windfall to avoid making major decisions immediately. Instead, the organization recommends creating a financial plan and taking time to understand the full scope of the new assets before making significant purchases or lifestyle changes.
One of the biggest challenges facing newly wealthy employees is concentration risk: having too much of their net worth tied to a single company. FINRA notes employees often become overexposed to their employer’s stock, which can leave them vulnerable if the company experiences a downturn.
The US Securities and Exchange Commission similarly recommends diversification and asset allocation rather than concentrating wealth in a single investment. The agency warns investors who keep too much money in employer stock may expose themselves to unnecessary risk, even when the company appears successful.
That helps explain why SpaceX employees are seeking advanced tax and investment strategies before the IPO arrives. For many of them, the challenge won’t be earning wealth, it will be preserving it.
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Clay Halton is an associate editor at Money.ca, covering a wide range of consumer-focused financial stories. He has over eight years of experience in digital publishing and has written and edited for outlets including PCMag and Investopedia.
