Following SpaceX’s blockbuster $1.77 trillion initial public offering, Juan Hernandez, a former welder for the aerospace and satellite company, saw his wealth balloon overnight as a result of his stake in the firm. Hernandez, who joined SpaceXin 2015 earning $28 per hour, now holds an estimated $880,000 in shares following the company’s IPO, the Wall Street Journal reported. According to billionaire investor Mark Cuban, this model of employees owning shares of the companies they work for should be the norm, not the exception.
Company stock options don’t just offer the possibility of a hefty payday for a business’ perhaps unsung workers, Cuban said; it’s a way to address the pervasive problem of growing income inequality. In a recent episode of the “What It Takes” podcast by Unmoderated News, Cuban outlined his own philosophy around how to close wealth disparities.
