Business

Elon Musk Plans To Spin SpaceX’s Starlink Off For An IPO

Elon Musk SpaceX Starlink

Tesla CEO Elon Musk wants to list SpaceX;s space internet venture, Starlink, numerous years in the future when revenue growth is predictable and effortless.

Last year, Musk said that Starlink will serve as a vital new revenue stream for his California-based aerospace company SpaceX. or Space Exploration Technologies Corp. “Public market does *not* like erratic cash flow haha,” he tweeted on Monday.

In 2019, SpaceX President Gwynne Shotwell floated the idea of spinning Starlink off or an IPO in the coming years, Bloomberg reported. The aerospace company has expedited the building process for its Starlink satellite constellation to commercially provide broadband internet by the end of the year.

In his tweet, the billionaire entrepreneur said he is a “huge fan” of small retail investors and will therefore make sure they get top priority.

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