Josh Giegel, an early SpaceX employee from 2009 to 2012, says the equity he received has been financially transformative. The 41-year-old now CEO of AI startup Gambit described his stock options as "liberating" in a personal essay published by Business Insider.
Giegel joined the rocket company when it was still a small operation, interviewing with Elon Musk between Falcon 1 test flights. The equity he accumulated over three years allowed him to put a down payment on a house and help pay off his wife's student loans. He notes the financial cushion also gave him freedom to take risks.
"The equity also allows me to take a lower salary at my startup," Giegel said, explaining that Gambit can therefore hire more people. His experience illustrates how early-stage SpaceX employees leveraged stock compensation into life-changing financial security. The company has remained private, making its equity a valuable but illiquid asset for many.
SpaceX's valuation has soared over the past decade, potentially making early grants worth millions. Meanwhile, Vanguard's Mega Cap Growth ETF could be positioned to buy SpaceX shares as soon as June 19, according to a separate Motley Fool report, highlighting growing investor interest in the company. However, Giegel's story centers on the personal impact of equity rather than market mechanics.
Some argue that tech equity narratives often overlook survivors' bias: most startups fail, and early employees at less successful firms rarely see such returns. Giegel acknowledges being in the right company at the right time.