Musk denies rumors that SpaceX is aiming for an $800 billion valuation.
TL;DR
Musk denies SpaceX's $800 billion valuation rumor, stating it's inaccurate. He highlights the company's positive cash flow and valuation dependence on Starship, Starlink, and mobile network progress, but does not address IPO plans.
Tags
PANews reported on December 7 that, according to Cailian Press, in response to rumors that commercial space leader SpaceX was "aiming for an $800 billion valuation and targeting an IPO next year," Musk stated on social media that the news of SpaceX raising funds at an $800 billion valuation was "inaccurate."
He added that SpaceX has been a company with positive cash flow for many years, conducting two stock buybacks annually to provide liquidity for employees and investors. The company's valuation improvement depends on the progress of Starship and Starlink, as well as obtaining spectrum for global direct-connect mobile networks. However, Musk did not respond to the claim that SpaceX is "aiming for an IPO next year."