Juan Hernandez joined ****** eX in 2015 as a welder making $28 an hour. The company offered him $10,000 in stock alongside his wages. He accepted without giving it much thought. He'd never been offered equity at any job before and didn't really know what to do with it.
When ****** eX went public this year at a $1.77 trillion valuation, Hernandez's 6,500 shares were worth just over $1 million, according to CBS News. He now works at Blue Origin. He's teaching his kids how to invest.
Mark Cuban saw that story and said it should be the rule, not the exception.
"I would like to see it so that every single CEO, founder, entrepreneur does what I did, which was to give equity to every single employee," Cuban said on the "What It Takes" podcast. "The way you're going to reduce income inequality for anybody who works with somebody is making sure they get shares of stock, and then they benefit."
He's not just theorizing. Cuban gave equity to all 330 employees at Broadcast.com before Yahoo bought it for $5.7 billion in 1999. About 300 of them became millionaires. He did the same at his first company, MicroSolutions.
#Equity #SpaceX
When ****** eX went public this year at a $1.77 trillion valuation, Hernandez's 6,500 shares were worth just over $1 million, according to CBS News. He now works at Blue Origin. He's teaching his kids how to invest.
Mark Cuban saw that story and said it should be the rule, not the exception.
"I would like to see it so that every single CEO, founder, entrepreneur does what I did, which was to give equity to every single employee," Cuban said on the "What It Takes" podcast. "The way you're going to reduce income inequality for anybody who works with somebody is making sure they get shares of stock, and then they benefit."
He's not just theorizing. Cuban gave equity to all 330 employees at Broadcast.com before Yahoo bought it for $5.7 billion in 1999. About 300 of them became millionaires. He did the same at his first company, MicroSolutions.
#Equity #SpaceX
3 months ago
