Elon Musk refutes reports that SpaceX is raising $800 billion
New Delhi – Dec 7 (LatestNewsX) – Tesla and SpaceX chief Elon Musk dismissed rumors that the company is raising $800 billion or that NASA subsidizes its operations.
The Wall Street Journal had reported that SpaceX plans a secondary share sale aimed at an $800 billion valuation, which would outstrip OpenAI and become the most valuable U.S. private firm.
Musk posted on X to clarify: “There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate. 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 added that any uptick in valuation comes from progress on Starship and Starlink, plus securing global direct‑to‑cell spectrum that opens up a much larger market. “And one other thing that is arguably most significant by far,” he said.
Although Musk is fond of NASA, he noted that the agency would account for less than 5 % of SpaceX’s revenue next year. “Commercial Starlink is by far our largest contributor to revenue. Some people have claimed that SpaceX gets ‘subsidised’ by NASA. This is absolutely false,” he said.
“The SpaceX team won the NASA contracts because we offered the best product at the lowest price. BOTH best product AND lowest cost. With regard to astronaut transport, SpaceX is currently the only option that passes NASA safety standards,” he added.
Just last week, SpaceX launched a batch of 28 Starlink satellites from Vandenberg Space Force Base, California. The reusable first stage returned to Earth 8.5 minutes after liftoff, demonstrating the booster’s reusability. This marked the company’s 156th Falcon 9 mission of the year, and there are now thousands of Starlink satellites orbiting Earth.
— LatestNewsX
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