Home / Business and Economy / Musk Buys $1.4B In SpaceX Stock Last Year
Musk Buys $1.4B In SpaceX Stock Last Year
21 Apr
Summary
- Elon Musk purchased $1.4 billion of SpaceX stock.
- The purchase was made through Musk's trust last year.
- A new plan could award Musk 60 million additional shares.
Elon Musk's stake in SpaceX saw a substantial boost last year through a $1.4 billion stock purchase from current and former employees. This transaction was conducted via Musk's personal trust and was detailed in a confidential draft of the company's IPO prospectus.
SpaceX has also recently approved a forward-looking incentive for its CEO. This plan could award Musk an additional 60 million shares.
This potential stock award is tied to ambitious future milestones. These include achieving a market capitalization as high as $6.6 trillion and successfully implementing a plan to construct data centers in space.
These space-based data centers are intended to supply computing power crucial for artificial intelligence developers. The report regarding these transactions could not be immediately verified by Reuters.
