Elon Musk increased his ownership in SpaceX by purchasing $1.4 billion in stock from current and former employees, according to a draft IPO prospectus obtained by The Information.
The stock purchases occurred over the past year and represent a significant consolidation of Musk's control ahead of potential public markets activity. The transactions involved direct sales from SpaceX's workforce, suggesting the company facilitated secondary market sales for employees seeking liquidity.
The move signals Musk's continued confidence in SpaceX's valuation and direction. SpaceX has maintained a private status despite its dominance in commercial spaceflight and satellite launches through Starlink.
Details about pricing and timing of the purchases remain unclear from available prospectus information. The acquisition adds to Musk's substantial existing stake in the aerospace company.
SpaceX has not publicly announced IPO plans, though the existence of a draft prospectus indicates ongoing preparation for a potential public offering. The company has raised funding at increasingly high valuations, most recently valued above $180 billion in secondary markets.
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