Musk bought $1.4 billion SpaceX shares 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 capitalisation climbs from $1.1 trillion to as high as $6.6 trillion and the firm completes ⁠an ambitious ‌plan of building data centers in space to supply compute for AI developers, ⁠The Information said.