Houston, Elon has a problem: SpaceX launch scrubbed at the last minute

Business & FinanceSpace
22 May 2026 • 2:39 PM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

Houston, Elon has a problem: SpaceX launch scrubbed at the last minute

  • SpaceX's Starship launch was dramatically aborted just 30 seconds before liftoff on Thursday evening due to a hydraulic pin failure.
  • CEO Elon Musk confirmed the technical glitch, stating a swift resolution could allow another launch attempt as early as Friday.
  • This aborted flight followed Musk's announcement that SpaceX plans to go public, aiming for one of the largest stock sales in history.
  • SpaceX reported a $ 2.6 billion operational loss last year despite $18.7 billion in revenue, with losses continuing into the current year.
  • The planned IPO seeks to raise an estimated $75 billion to fund ambitious projects, including transporting astronauts to the moon for NASA and establishing a human colony on Mars.

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