Billionaire Elon Musk said it is now “impossible” to deprive Tesla even though he would have liked to devote more time to innovation.
“The obligations of Tesla’s public companies are a much bigger factor, but moving into privacy now is impossible (sigh),” Musk said in response to a tweet saying he should optimize his time in areas , such as innovation. “The engineering, design and overall operations of the company absorb the vast majority of my mind and are the fundamental limitation to do more.”
Shares of Tesla, which were included in the S&P 500 index this week, have grown eightfold this year before being added to the benchmark. The gain is twice the advance of the next best performer on the indicator. The stock price jump also created millionaires among its investors and boosted Musk’s net worth between $ 132.2 billion and $ 159.7 billion, making it the second richest person in the world, according to the Bloomberg Billionaires Index.
Musk also said that Starlink, SpaceX’s fledgling Internet business, would likely be a candidate for his group to go public once his revenue growth becomes “reasonably predictable,” echoing comments similar from the president of the company to investors earlier this year. Space Exploration Technologies has already launched more than 240 satellites to build Starlink, President Gwynne Shotwell said at a private investor event in February. A quote would give investors the opportunity to buy one of the most promising operations of the tightly controlled company. “Starlink is the right kind of business that we can go ahead and make public.”
Until then, investors have had limited ways of owning a piece of SpaceX, which has become one of the companies with the highest business valuation risk in the United States in dominating the commercial rocket industry.
In addition to a NASA contract for a version of its next-generation Starship spacecraft that could land astronauts on the moon in 2024, SpaceX has an agreement with a Japanese entrepreneur for a private flight around the moon in 2023.
And it will be ready to launch its first Starship flight to Mars in 2026, Musk said earlier this month.
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