Elon Musk on Wednesday, denied a report claiming that his rocket company SpaceX was talking about launching an IPO as soon as 2024 for Starlink, a satellite internet provider.
In response to a post on social networking platform X that published a report from Bloomberg News claiming that SpaceX had been relocating the unit’s assets to a wholly owned unit that would eventually be split off, he labelled it as “false”.
The tech billionaire had previously stated that he planned to float Starlink once cash flow and revenue growth stabilised. He said that Starlink had reached cash-flow breakeven earlier this month.
SpaceX was the first private corporation to launch humans into orbit, and it is currently valued at over $150 billion.
The largest satellite operator in the world is the Starlink division. It signed a deal on Wednesday to provide free internet service in Mexico till the end of 2026.
