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Elon Musk Says SpaceX IPO Is Still 3 Or 4 Years Away: CNBC

spacex jul01 07jun22 lt

Billionaire entrepreneur Elon Musk has reportedly told employees at SpaceX that the company does not intend to take its Starlink satellite internet business public before 2025.

"I'm not sure exactly when that [IPO] is, but maybe it will be like — I don't know, just guessing — three or four years from now," Musk said at a private meeting of the company's employees, according to an audio recording obtained by CNBC.

Three to four years would mean that Starlink IPO will only take place after 2025, which is later than Musk's initial estimates. In an email sent by Musk in May 2019, which was obtained by CNBC, Musk had stated that "it will probably make sense to take Starlink public in about three years or so."

Musk then pushed back that estimate, saying in a tweet last year that it would be "at least a few years before Starlink revenue is reasonably predictable," adding that "going public sooner than that would be very painful."

In the latest meeting, the CEO reiterated this point to the SpaceX's employees that they "should not think of things going public as, like, a sure path to riches."

"The public markets are fickle" and "really pistol-whip you if you don't meet expectations," Musk added.

SpaceX recently raised at least $1.5 billion in a funding round, valuing the company at around $125 billion.

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