Elon Musk responds to SpaceX raising money at $800B claims, clarifies NASA contracts: ‘There has been a lot of…’

Elon Musk has publicly denied recent news reports which claimed that his space company, SpaceX, is pursuing an $800 billion valuation through a new secondary share sale. The billionaire CEOs denial comes a day after reports said that if the sale is successful, a valuation will crown the rocket maker as the most valuable private company in the US, surpassing ChatGPT-maker OpenAI. Musk also clarified that his space company got NASA projects because they offered the ‘best’ deal.

Musk addressed the share selling claims, stating, “There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate.”


“SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors. Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market. And one other thing that is arguably most significant by far,” Musk added.

‘NASA does not favour SpaceX’

Meanwhile, while speaking on NASA contracts, Musk outrightly refutes that “SpaceX gets ‘subsidized’ by NASA” by saying, “This is absolutely false.”

“While I have great fondness for @NASA, they will constitute less than 5% of our revenue next year. Commercial Starlink is by far our largest contributor to revenue. Some people have claimed that SpaceX gets “subsidized” by NASA. This is absolutely false,” Musk said in a separate post.

“The SpaceX team won the NASA contracts because we offered the best product at the lowest price. BOTH best product AND lowest cost. With regard to astronaut transport, SpaceX is currently the only option that passes NASA safety standards,” he clarified.

It is to be noted that NASA and SpaceX collaborate for the Commercial Crew Program. This agreement involves taking astronauts to and from the International Space Station (ISS) using SpaceX's Crew Dragon spacecraft and Falcon 9 rockets.