(Dec 7): Elon Musk denied news reports that his rocket and satellite maker SpaceX is seeking a US$800 billion ($1.03 trillion) valuation through a share sale.
“There has been a lot of press claiming SpaceX is raising money at US$800B, which is not accurate,” Musk said in a post Saturday on his social media platform X. “SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” he said.
People familiar with the matter told Bloomberg News that SpaceX is preparing to sell insider shares in a transaction that would value the firm as much as US$800 billion. Such a sale would allow some investors and employees to cash in on some of their holding.
