SpaceX shares are creating fortunes for early staff, and engineer Andre Lavoie says he plans to sell gradually as the stock value keeps rising.
SpaceX shares are turning paper wealth into real money for some of the company’s earliest employees, and Andre Lavoie is among those preparing to sell. Lavoie, who joined SpaceX in 2009 as an engineer, says the stock he received as part of his compensation has climbed to a level that is reshaping his future plans.
He was given 200,000 shares, now worth about $23 million, and says he intends to sell gradually whenever he gets the chance. Lavoie says the rapid rise in value has made it difficult to plan ahead, so he prefers to take gains in stages rather than wait for a possible bigger payday later. He is not alone in weighing that choice as SpaceX shares begin to trade publicly.
SpaceX founder Elon Musk said on Fox News that the company’s June listing on the stock market likely made several thousand employees millionaires, including workers on the production line. Reports have estimated that about 4,400 new millionaires were created by the listing. Unlike many newly public companies, SpaceX shares are being released in phases, with the first 20% set to become available on 6 August and more batches due through the rest of the year.
The company’s public debut was a milestone for Musk and for the broader space business. SpaceX listed on the Nasdaq in June in what was described as the biggest initial public offering in history, giving the rocket and satellite company a valuation of more than $2 trillion. For a time, that made Musk the world’s first trillionaire, though the stock later cooled and his fortune slipped back below that mark within weeks.
The company’s public debut was a milestone for Musk and for the broader space business. SpaceX listed on the Nasdaq in June in what was described as the biggest initial public offering in history, giving the rocket and satellite company a valuation of more than $2 trillion. For a time, that made Musk the world’s first trillionaire, though the stock later cooled and his fortune slipped back below that mark within weeks.
“SpaceX shares are creating fortunes for early staff, and engineer Andre Lavoie says he plans to sell gradually as the stock value keeps rising.”
The company’s first results as a public company also gave investors a sharper look at the scale of the business. Quarterly revenue nearly doubled to $7.8 billion from a year earlier, but spending jumped to $18.3 billion, more than six times the prior year’s level. The company reported a net loss of $143 million for the three months to June and a loss of $2 billion for the first half of the year.
Musk dismissed doubts on an earnings call, saying people were underestimating Starlink. He said the satellite internet service, which is currently the company’s only profitable unit, could eventually provide a majority of the world’s internet. But the stock fell after the earnings report, with investors rattled by the company’s heavy spending on artificial intelligence.
Lavoie plans to use some of the proceeds from selling his shares to help fund a hotel he is renovating in Pontebba, in northeastern Italy’s Friuli region, along with a small brewery. He also wants to focus on raising awareness about air pollution in the area through a local environmental group. Before joining SpaceX, he was interviewed by Musk himself, and he still speaks warmly about the company and the people he worked with there.
The debate around SpaceX’s value is far from settled. Some analysts say the company is worth less than half its current stock market price and warn that its connection to xAI carries financial risk, alongside broader concerns on Wall Street that high valuations for AI-linked firms could be overdone. Still, aerospace analyst Ron Epstein of Bank of America Securities argues the stock swings reflect market forces more than the company’s fundamentals, pointing to SpaceX’s lower cost of reaching orbit and its long-term role in space transport. For American readers, the story shows how a private space giant is now creating real fortunes, testing investor appetite, and shaping the next fight over whether its valuation matches reality.
Frequently asked questions
Who is Andre Lavoie in this story?
Lavoie joined Spacex in 2009 as an engineer and worked on pressure tanks used in its rockets. He received company stock as part of his pay and now plans to sell some of it.
How much are his SpaceX shares worth?
Lavoie’s 200,000 shares are worth about $23 million. He says he wants to sell in intervals rather than all at once.
What happened when SpaceX went public?
Spacex listed on the Nasdaq in June in the biggest initial public offering in history. The company was valued at more than $2 trillion, and Musk said it likely created several thousand millionaires among employees.
Why did the stock fall after the earnings report?
The shares dropped after the company’s first public results showed heavy spending, including large AI-related costs. Investors were also unsettled by concerns about the company’s valuation.
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