A day before the bankruptcy leak, Musk quietly hinted at making SpaceX public
So we’re doing this all over again, huh?
About two months ago a Twitter user published screenshots from a 2013 email that SpaceX CEO Elon Musk sent to employees, in which he explained why he wanted to keep SpaceX private.
Then, the day before yesterday, Musk suddenly responded to the months-old tweet, cryptically saying that “a lot has happened in eight years” – perhaps a clue that the billionaire is in the process of going public with another major company.
At least that’s an interpretation of Musk’s answer.
“But has a lot changed? ” CNBC space reporter Michael Sheetz asked in response. “Or do you think SpaceX as a whole still won’t be released to the public until the Mars missions take place, with only a possible Starlink IPO before that?”
Musk stopped short, however, and has yet to respond to Sheetz. In March 2020, Musk also laughed the idea of SpaceX turning Starlink into a stand-alone public company.
Notably, the CEO’s tweet was sent a few hours before SpaceExplored published a leaked email Musk sent to SpaceX employees claiming the company is in crisis and faces “real risk on how to file bankruptcy”
In 2013, Musk tried to reassure SpaceX employees that “if you think SpaceX will perform better than the average public company, then our stock prices will continue to appreciate at a faster rate than the stock market.” .
The CEO argued that state-owned companies often go through “extreme volatility,” which – if Musk’s Tesla electric car company can be trusted – is a fair assessment.
If Musk’s comment actually means he’s planning to go public with SpaceX, it could mean the space company is up for a tough race.
Over three years ago, Musk caused a huge uproar when he tweeted that it “plans to privatize Tesla at $ 420” with “guaranteed funding,” about eight years after the company went public in 2010.
What turned out to be a misguided joke on the grass landed him an embarrassing Securities and Exchange Commission lawsuit.
In his 2013 letter, Musk argued that Tesla and SolarCity were public because “they had no choice.”
He also estimated that SpaceX was worth around $ 4 billion at the time. Today, SpaceX is worth much more, reaching a valuation of 100 billion dollars in October.
Then there is the fact that as a public company, SpaceX would face a full glove of government bureaucracy – and if recent trends are to be followed, SpaceX prefers to move forward at a breakneck pace.
Has Musk learned his lesson from his fateful Tesla tweet? Considering he was tweet about doing a dump this week again, investors will have to remain vigilant.
READ MORE: Elon Musk responds to tweet on SpaceX keeping private with “a lot has happened in 8 years” [Bloomberg]
Learn more about Elon Musk: Elon Musk laconically tackles SpaceX bankruptcy leak
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