SpaceX’s IPO just minted thousands of new private jet prospects

The business jet sales and membership card business just received a huge injection of new prospects. With the SpaceX IPO last week, the New York Times reported around 400 employees have become centimillionaires on paper overnight, with an additional 4,000 millionaires. And even if they can’t touch their money for several months, once they can, it opens the private jet market to these individuals and sellers will have keep an eye on it.What the IPO actually createdSpaceX debuted as a public company in June, though only 4% of its shares were available for public trading. Early investors and employees hold the rest. Despite the limited amount of shares available, demand for the Nasdaq listed stock was high as its price jumped from its $135 IPO price to close its first day at $161, up about 19%. It has since climbed as high as $225 and currently trades around $185 a share.A centimillionaire holds $100 million or more in net worth. That $100 million breakthrough is the one that matters for aviation, as that is the wealth band that can reasonably purchase a private jet, enter a fractional ownership or become a jet-card member.Why the new money is locked until DecemberThe caveat is that the employees cannot use that money yet. An IPO does not hand out money as soon market closes on its first day. SpaceX plans to use a phased locked up approach with the shares, with only a portion of them available for sale at a time. The lock-up will be fully lifted around December 8, 2026. Until an employee can sell their shares, they will not be able to access any of the money it makes. The pool of potential buyers will grow over time as more shares become available.A market that’s just rightThe business jet market is holding steady as it is with WingX reporting that activity has increased by 4% year-over-year, and Sentient Jet President, Alan Walsh reported to Yahoo! Finance that it continues to see demand with almost 7,000 card members. This new influx of potential customers will enter a market that’s not too hot or cold.Sellers and on-demand charter companies wanting to tap into this potential new market should make themselves visible to that new wealth as the shares are unlocked. SpaceX wealth is clustered in Texas and in the Space Coast of Florida, so expect demand to be concentrated there.Looks like this SpaceX rocket ship is taking quite a few more passengers along for the ride.