SpaceX engineer Andre Lavoie to cash out $23 million after historic $2 trillion IPO

Andre Lavoie joined SpaceX in 2009 as an engineer designing pressure tanks for its rockets. As part of his compensation he received 200,000 shares, which have risen to an estimated value of about $23 million. The 63‑year‑old says he will sell a little of his stake whenever the opportunity arises, preferring to lock in gains rather than wait for uncertain future growth.

SpaceX’s Nasdaq debut in June was the largest IPO ever, valuing the rocket and satellite firm at more than $2 trillion and briefly making founder Elon Musk the world’s first trillionaire. Shares are being released in stages, with the first 20 % becoming available on 6 August and further batches scheduled throughout the year. Musk has said the listing likely created several thousand employee millionaires, with estimates of around 4,400 new millionaires.

In its first public‑company results, SpaceX reported quarterly revenue of $7.8 billion, up nearly double from a year earlier, while spending surged to $18.3 billion, leading to a net loss of $143 million for the three months to June and a $2 billion loss over the first half of the year.