Galloway Snubs SpaceX IPO

Benzinga

Scott Galloway said he wouldn’t invest in a SpaceX IPO, arguing Musk’s influence on media outweighs the company’s operational strengths. He acknowledged SpaceX’s strong moat and rising revenue but said leadership concerns keep him out even as the company readies a massive IPO near a $1.5T valuation.

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

00:03Scott Galloway said he is not interested in investing in a potential SpaceX IPO,

00:07citing concerns about Elon Musk's business practices,

00:11according to comments made Thursday on the Prof G Markets podcast.

00:15Galloway criticized Musk's influence on media and said that factor outweighs SpaceX's

00:20operational success for him as an investor. He said SpaceX's cost reductions have driven

00:25its success and argued that while digital companies scale faster, analog companies like

00:30SpaceX have much larger competitive modes. He noted the company generated about $13 billion

00:35in revenue last year and is expected to reach $15 billion this year.

00:40Musk confirmed SpaceX is preparing for an IPO, with reports suggesting the company could raise

00:45over $30 billion at a valuation near $1.5 trillion, which would exceed Tesla's market capitalization.

00:52For all things money, visit Benzinga.com.

00:55For all things money, visit Benzinga.com.

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