Thu. Dec 7th, 2023
Elon Musk’s Starlink IPO Rumors Debunked

Elon Musk, the richest person in the world, continues to make headlines. Currently, there are reports circulating that preparations are underway for an IPO of his satellite internet company, Starlink. According to these reports, Starlink’s IPO could happen next year.

However, Elon Musk himself has revealed the truth behind these claims. He reacted to a report related to speculations about Starlink’s IPO on the social media platform, X. Musk labeled the news of Starlink’s IPO launch in 2024 as fake.

In a Bloomberg report, it was mentioned that SpaceX recently transferred its assets to a separate subsidiary company, indicating the possibility of Starlink’s IPO. Musk dismissed these claims by replying to a tweet shared by the handle Teslanomics, which had shared the Bloomberg news.

This isn’t the first time Musk has discussed the possibilities of Starlink’s IPO. He had previously stated that once Starlink’s revenue growth and cash flow stabilize, and it becomes feasible to estimate, considering an IPO and listing it in the stock market can be considered. Musk had also mentioned earlier this month that Starlink has reached neutrality in cash flow.

Starlink is counted among the selected companies globally that provide internet services through satellite connections. Currently, Starlink is the world’s largest company in the satellite internet sector. The company currently has approximately 1 million active users. Starlink is also preparing to offer satellite internet in India soon.

It should be noted that the original article was written in a mix of Hindi and English languages.