Musk says Starlink to go public once cash flow is more predictable
Tesla Inc CEO Elon Musk will list SpaceX's space internet venture, Starlink, when its cashflow is fairly predictable, the billionaire entrepreneur said late on Wednesday (Jun 23).
"Going public earlier than that might be very painful," Musk said in a tweet. "Can do my better to give long-term Tesla shareholders preference."
He was giving an answer to a question on Twitter, where a user asked: "Any thoughts on Starlink IPO we'd love to spend money on the future. Any applying for grants first dibs for Tesla retail investors?"
This past year, SpaceX President Gwynne Shotwell floated the thought of spinning off Starlink for a short public offering.
Starlink, a well planned network of thousands of satellites in low-earth orbit, aims to offer fast Internet speeds globally.
Musk had said earlier that Starlink, currently based in Redmond, Washington, is a crucial source of funding for his broader plans like developing the Starship rocket to fly paying customers to the moon and finally trying to colonise Mars.
Source: www.channelnewsasia.com
