Former SpaceX welder set for windfall after historic IPO

Juan Hernandez, who once considered a welding job at SpaceX just another contract gig, is on the cusp of becoming a millionaire thanks to the company's historic $75 billion initial public offering. The former SpaceX employee, who now works at Blue Origin, holds around 6,500 SpaceX shares, which could be worth nearly $880,000 if they trade at the IPO price of $135.

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It was just another contract job for me at the time.

Hernandez joined SpaceX in 2015 after a friend recommended him for a welding position. At the time, the company offered him $10,000 in stock, an incentive he didn't fully appreciate then, having never received stock options from previous hourly jobs. "I didn't know it was gonna be this big, at this point," he told CBS News.

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I thought in my head, I don't know what SpaceX is, but let's go.

During his decade at SpaceX, Hernandez advanced from welder to supervisor, contributing to the structures that prepared rockets for launch. He believes that offering employees a stake in the company fosters a sense of ownership and motivates them to perform better. "It is, it's their company as well," he explained.

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It wasn't a big deal. I didn't know anything about it then. I didn't know it was gonna be this big, at this point.

Despite the potential windfall, Hernandez remains grounded. As an immigrant, he emphasizes the importance of hard work, a value he intends to pass on to his three children. His 16-year-old daughter, already an investor in Meta and other companies, is described by her father as a "little entrepreneur herself."

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They will perform a lot better because, I mean, it is, it's their company as well.