Elon Musk purchased $1.4 billion in SpaceX shares last year and could earn 60 million more if the firm hits ambitious valuation and project goals
WASHINGTON: Elon Musk significantly increased his ownership in SpaceX last year. The billionaire purchased $1.4 billion worth of stock from current and former employees, according to a report by The Information.
The secondary stock purchase was made through Musk’s trust. It was disclosed in a draft of SpaceX’s confidential initial public offering prospectus.
SpaceX also approved a new incentive plan for its CEO last month. The plan would award Musk 60 million additional shares if the company meets specific, ambitious targets.
These targets include the company’s market capitalisation climbing from $1.1 trillion to as high as $6.6 trillion. SpaceX must also complete a plan to build data centres in space to supply computing power for AI developers.
Reuters could not immediately verify the details of the report. SpaceX did not immediately respond to a request for comment.
