this post was submitted on 15 Mar 2024
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Leaked SpaceX documents show company forbids employees to sell stock if it deems they've misbehaved (techcrunch.com)
submitted 8 months ago by ylai@lemmy.ml to c/technology@lemmy.world
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[–] MeanEYE@lemmy.world 5 points 8 months ago

Pretty much that. You are promised number of stock options at fixed price far before company goes public. If there's ever an IPO, you can purchase your stock at that price and decide to do whatever you want to do with it. You can sell it and get money, or you can keep it and get income.

It's what Musk did with PayPal. He never worked at PayPay, he never was part of PayPal, but the company that later came up with PayPal once merged with company Musk was part of and he got options. He was fired really fast from that company, but they can't take his options, which is how he got rich after PayPal sold to eBay for billions.