Elon Musk Denies SpaceX Is Raising Money At $800 Billion Valuation, Remains Silent On IPO

Benzinga

Elon Musk denied reports that SpaceX is raising new funding at an $800B valuation, saying the company has positive cash flow and uses buybacks instead. He credited valuation growth to Starship and Starlink progress and global direct-to-cell spectrum gains.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street

00:02SpaceX CEO Elon Musk denied reports that the company is raising new funding at an $800 billion

00:09valuation, according to a post on X. Musk said SpaceX has produced positive cash flow for years

00:15and conducts twice yearly stock buybacks to let employees and investors sell shares instead of

00:20raising new capital. He attributed SpaceX's rising valuation to progress on Starship and

00:25Starlink and to the company securing global direct-to-sell spectrum. SpaceX filed a

00:30Starlink mobile trademark in October and has said Starship will carry about 99% of Earth's orbital

00:36payload mass once it launches multiple times a day. Musk did not address reports of a late 2026

00:43IPO target. For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended