Cashing in on SpaceX: 'Every chance I get, I'll sell a little more'

SpaceX Employee Plans Gradual Sale of Shares Following Company Listing

Andre Lavoie joined SpaceX in 2009 as an engineer responsible for designing pressure tanks used in its rockets. Compensation included equity, a standard practice at early-stage companies to attract talent. Seventeen years later, the 200,000 shares he received are valued at approximately $23 million. Lavoie, now 63, stated he intends to sell portions of his holdings as opportunities arise.

"Every chance I get going forward, I'll sell a little bit more," he said. "The shares have been going up so radically it keeps messing up my life plans—you really can't know the future, so it's better to sell early and in intervals."

Lavoie is one of many SpaceX employees whose equity has increased substantially in value. Company founder Elon Musk stated on Fox News that the June stock market listing had created "several thousand" employee millionaires, including some working on production lines. Separate reports estimated the total at 4,400 new millionaires.

SpaceX shares are being released in stages rather than all at once. The first 20 percent became available on 6 August, with additional tranches scheduled through the remainder of the year. Individual shareholders decide whether to sell at each release. Some may retain their positions in anticipation of further price increases.

The company listed on Nasdaq in June in the largest initial public offering on record, with a valuation exceeding $2 trillion. The listing briefly placed Musk above the $1 trillion net worth threshold before the share price declined and his holdings fell below that level within weeks.

In its first earnings report as a public company, SpaceX recorded quarterly revenue of $7.8 billion, nearly double the figure from the same period a year earlier. Operating expenses rose to $18.3 billion, more than six times the prior year's amount. The company reported a net loss of $143 million for the three months ending in June and a $2 billion loss for the first half of the year.

During the earnings call, Musk addressed investor concerns about the satellite internet division Starlink, stating that analysts were underestimating its potential and that it could eventually account for a majority of global internet access. Starlink remains the only profitable segment of the business.

Shares fell 13.6 percent on the day of the earnings release, closing at $108.27, below the initial listing price of $135.

Lavoie said proceeds from share sales will support renovation of a hotel in Pontebba, in Italy's Friuli region, along with a small brewery. He also plans to work with a local environmental group on air pollution awareness.

Prior to his hiring, Lavoie was interviewed by Musk. He described Musk as "a very charming person when he wants something." Lavoie declined to comment on Musk's political activities, calling them personal matters, but expressed continued support for the company and its employees.

Some market analysts have assigned SpaceX a valuation below its current trading level, citing financial exposure linked to xAI and broader concerns about high valuations across AI-related companies. Economist Sinead O'Sullivan, formerly of NASA, described the company in June as an "Elon Musk ego project," arguing that investors were purchasing exposure to the Musk brand rather than core space operations.

Aerospace analyst Ron Epstein at Bank of America Securities attributed recent price movements primarily to broader market conditions rather than company-specific developments. He noted that SpaceX operates across multiple areas beyond AI infrastructure and has reduced launch costs to orbit from an estimated $10,000–$20,000 per kilogram to roughly $2,000 using the Falcon 9 vehicle.

Lavoie said he remains confident in the company's underlying business model despite his decision to sell portions of his holdings.