Musk denies reports of SpaceX seeking $800 billion valuation
Published in Science & Technology News
Elon Musk denied news reports that his rocket and satellite maker SpaceX is seeking a $800 billion valuation through a share sale.
“There has been a lot of press claiming SpaceX is raising money at $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 company as much as $800 billion. Such a sale would allow some investors and employees to cash in on some of their holding.
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