Google's IPO created roughly 1,000 millionaires. Facebook's did about the same. SpaceX just created 4,400, with 400 of them above $100 million each.The structural reason matters more than the feel-good stories.Companies that stay private for decades usually concentrate the upside in VCs and founders. By the time regular employees get liquid, the 100x already happened on someone else's cap table. SpaceX stayed private for 24 years, the longest run to a mega IPO in history, and routed that compoun