TECH - Elon Musk Says Starlink IPO Discussions 'False' Following Report Of Spin Off | Benzinga
SpaceX owner Elon Musk denying a report that a spin-off of his company’s Starlink satellite business is in the works.
What Happened: Musk responded to a Bloomberg report that a Starlink initial public offering (IPO) for 2024 was being discussed with a trite “false”.
The report said discussions about a “late 2024” IPO were underway, citing “people with knowledge of the matter” as sources, with the company preparing for the transition to a standalone public company by moving Starlink’s assets into a wholly-owned subsidiary.
Speculation has persisted since the Tesla (NASDAQ:TSLA) CEO suggested in September 2020 that a Starlink spin-off could be possible once SpaceX maintains stable profit growth and ...