The math behind Silicon Valley's millionaire factory

A SpaceX rocket firingSpaceXA version of this story originally appeared in the BI Tech Memo newsletter.Sign up for the weekly BI Tech Memo newsletter here.New Levels.fyi analyses show how equity grants at frontier tech companies have turned into life-changing sums.A SpaceX Software Engineer II offer from August 2022 included a $155,000 salary and a $365,000 equity grant that vested over five years. At SpaceX's IPO valuation, that grant is estimated to be worth more than $4 million, assuming it w