A former welder at Elon Musk’s aerospace company SpaceX has achieved millionaire status following a massive surge in the company’s valuation. Juan Hernandez, who joined the company in 2015 as a temporary contract worker, saw his net worth cross the $1 million mark (over 9 crore INR) due to the rising value of the stock options he received during his tenure. This remarkable financial growth highlights how employee stock ownership programs can transform the lives of ordinary workers.

Hernandez initially joined SpaceX through a friend, with little knowledge of the company’s long-term goals. Upon hiring, he was granted company shares worth approximately $10,000, a benefit he had never received in his previous jobs and thus did not initially value highly. During his time at SpaceX, he contributed to developing rocket launch infrastructure and was eventually promoted to a supervisor. He currently holds 6,500 SpaceX shares, which recently closed at a trading price of $160.95 per share, pushing his total holdings past $1 million.

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Despite his newfound wealth, Hernandez has no plans to quit working and currently works at Jeff Bezos’s aerospace firm, Blue Origin. He intends to use his earnings to secure his children’s future and has already started teaching his teenage daughter about long-term investments and the stock market. Hernandez is one of over 5,000 ordinary SpaceX employees who have transitioned into the millionaire bracket, showcasing SpaceX’s success in sharing its growth with its workforce.