Tesla Chief Executive Officer Elon Musk will list SpaceX's space Internet venture, Starlink, when its cash flow is reasonably predictable, the billionaire entrepreneur said late on Wednesday.
At least a few years before Starlink revenue is reasonably predictable. Going public sooner than that would be very painful. Will do my best to give long-term Tesla shareholders preference.— Elon Musk (@elonmusk) June 24, 2021
Last year, SpaceX President Gwynne Shotwell floated the idea of spinning off Starlink for an initial public offering.
Starlink, a planned network of tens of thousands of satellites in low-earth orbit, aims to offer fast Internet speeds globally.
Musk had said earlier that Starlink, currently based in Redmond, Washington, will be a crucial source of funding for his broader plans like developing the Starship rocket to fly paying customers to the moon and eventually trying to colonise Mars.
© Thomson Reuters 2021