Image: Tesla
Elon Musk says Tesla and SpaceX have made hundreds of thousands of their employees meaningfully wealthier over the years.
He went further on Saturday morning, saying the two companies have also improved the retirement savings of hundreds of millions of people.
Musk wrote: “Tesla and SpaceX have created meaningful wealth for hundreds of thousands of employees over time and improved the retirement savings of hundreds of millions of people.” He was quoting a post about jobs across his companies.
Employee stock has long been part of how both companies recruit and keep engineers, factory workers and managers. The SpaceX IPO in June turned years of private equity into shares long-time staff could finally trade.
Tesla, meanwhile, is one of the largest companies in the S&P 500, so index funds in everyday retirement accounts hold its stock whether savers picked it or not.
Both companies keep adding factory jobs. Tesla has built more than 10 million vehicles at Fremont, and Tesla and SpaceX broke ground together on a $16.8 billion Terafab chip plant in Texas.
Musk didn’t share a headcount or a dollar figure for employee gains in the post.
Do you hold Tesla or SpaceX shares in your retirement account, directly or through an index fund?
Want to see more of our stories on Google?
P.S. — Buying a new Tesla? Click here to get 3 months of free FSD, while supporting independent news.
Help support us by shopping on Amazon here.
Links in this post are affiliate links, so we earn a tiny commission at no charge to you. Thanks for supporting independent media!
