Former SpaceX staffer holds $21.4 million as IPO looms, advisers warn
SpaceX is about to go public, and its employees are on the verge of serious wealth.
One former staffer holds $21.4 million in SpaceX shares, making up 93% of his household's investible net worth.
Financial advisors say it's smart to sell some stock and spread out the risk, but one former employee is holding tight, hoping SpaceX will keep soaring.
Anthropic, OpenAI staff face tax choices
It's not just SpaceX; folks at Anthropic and OpenAI are also facing tough choices as their companies prep for IPOs this year.
Cashing out can mean major tax bills if too much stock is sold at once.
Advisors suggest selling shares over several years or using special strategies like exchange funds to avoid a tax nightmare.
There's also something called an 83(b) election that could save money if the stock price jumps, but it comes with risks if things don't go as planned.