Billionaire Elon Musk said it was “impossible” to take Tesla out in private now, even if he would have liked to spend more time on innovation.
“The obligations of the public company Tesla are a much bigger factor, but now it is impossible to go private,” Musk said in a tweet, saying he should optimize his time in areas such as innovation. “The company’s engineering, design and general operations absorb the vast majority of my mind and are the fundamental limit to doing more.”
Tesla shares, which were included in the S&P 500 index this week, increased eightfold this year before the benchmark was added. The gain is twice as high as that of the best track gauge performer. Rising stock prices also created millionaires among its investors and propelled Musk’s net worth by $ 132.2 billion to $ 159.7 billion, making him the second-richest person in the world. , according to the Bloomberg Billionaires Index.
Musk also said that Starlink, SpaceX’s booming internet business, would likely be a candidate in his group to go public once its revenue growth becomes “reasonably predictable,” repeating similar comments from the company’s president to investors earlier this year. Space Exploration Technologies has already launched more than 240 satellites to build Starlink, President Gwynne Shotwell said at a private investor event in February. A list would give investors a chance to buy one of the most promising transactions within the tightly owned company. “Starlink is the right kind of business that we can continue and make public.”
At this time, investors had limited ways to own a piece of SpaceX, which became one of the richest risk-supporting companies in the US, dominating the commercial missile industry.
In addition to a contract from NASA for a version of its state-of-the-art Starship spacecraft that can land astronauts on the moon in 2024, SpaceX has an agreement with a Japanese contractor for a private flight around the month in 2023.
And it will be ready to launch its first Starship flight to Mars in 2026, Musk said earlier this month.
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