Elon Musk bought $1.4 billion shares in SpaceX last year: Report
Elon Musk increased his stake in SpaceX last year by purchasing $1.4 billion worth of stock from current and former employees, The Information reported on Tuesday.
The secondary stock purchase, made through Musk’s trust, was disclosed in a draft of SpaceX’s confidential IPO prospectus, the report said.
SpaceX also approved a plan last month that would award the billionaire CEO 60 million additional shares if the company’s market capitalization climbs from $1.1 trillion to as high as $6.6 trillion and completes an ambitious plan of building data centers in space to supply compute for AI developers, The Information said.
