Mexican immigrant takes $28/hour welding job at SpaceX — now his stake is worth over $1M. How to build big wealth quick

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Juan Hernandez, who spent a decennary astatine Elon Musk's aerospace institution earlier moving to Blue Origin, told CBS News (1) that helium had ne'er adjacent heard of SpaceX (NASDAQ:SPCX) erstwhile a person suggested helium use for a welding occupation determination successful 2015.

"I thought successful my head, I don't cognize what SpaceX is, but let's go," Hernandez said.

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Now, the erstwhile SpaceX welder is sitting connected much than $1 cardinal worthy of shares aft the rocket maker's long-awaited nationalist debut.

Hernandez, who immigrated to the U.S. from Mexico, archetypal joined SpaceX arsenic a contractor earning $28 an hour. After being hired afloat time, helium received an equity assistance valued astatine $10,000.

"It wasn't a large deal. I didn't cognize thing astir it then," helium said. "I didn't cognize it was gonna beryllium this big, astatine this point."

Following SpaceX's $75 cardinal IPO (2), Hernandez present owns astir 6,500 shares. With the banal closing astatine $160.95 connected Friday (3), his involvement was worthy much than $1 cardinal — and it could beryllium acceptable to ascent higher. SpaceX's banal deed a precocious of $225.64 connected June 16 earlier backsliding the pursuing time (4).

And Hernandez isn't the lone SpaceX worker whose beingness has been transformed by institution stock.

According to reporting from The Wall Street Journal (5), erstwhile employees person utilized gains from their SpaceX shares to wage disconnected pupil loans, acquisition homes, money fertility treatments and motorboat businesses. One erstwhile engineer's remaining involvement is reportedly worthy much than $28 million, portion Hernandez utilized proceeds from earlier stock income to assistance physique a tiny existent property concern with his wife.

While Elon Musk's trillion-dollar milestone mightiness person grabbed the headlines, galore of the IPO's biggest idiosyncratic occurrence stories belonged to workers who spent years helping physique the institution from the crushed up.

Moneywise reached retired to Hernandez for further comment, but did not person a effect earlier publication.

Ownership tin beryllium almighty

Hernandez's communicative highlights 1 of the astir effectual and often overlooked ways mean workers physique wealth: ownership.

While wages supply income, ownership gives workers a accidental to enactment successful the semipermanent maturation of a business. Over 10 years, Hernandez roseate from welder to supervisor astatine SpaceX portion continuing to accumulate institution stock.