Sat. Dec 2nd, 2023
SpaceX Transfers Starlink Assets to Subsidiary, IPO Decision Pending

According to a report, the space company SpaceX has transferred assets from Starlink to a wholly-owned subsidiary, although no final decision has been made regarding an Initial Public Offering (IPO). The company has not officially commented on the matter. However, SpaceX CEO Elon Musk briefly commented on the story, simply stating “False” without providing further explanation.

Founded in 2002, SpaceX has already launched over 5,000 satellites that provide high-speed internet services in more than 60 countries. On November 2nd, Musk announced on his X profile that Starlink had achieved cash flow balance.

Additionally, Bloomberg reports that SpaceX anticipates a 67% increase in revenue next year, reaching $15 billion, with Starlink contributing $10 billion to that total.

Last year, Musk had mentioned the possibility of an IPO for Starlink during a SpaceX shareholder meeting. At the time, Musk stated that it would still be “several years” before an IPO would take place.

It remains to be seen whether SpaceX will ultimately proceed with the IPO for Starlink.