Elon Musk: ‘Impossible’ Take Tesla Special, Starlink IPO ‘Probable’

Elon Musk: 'Impossible' Take Tesla Special, Starlink IPO 'Probable'
  • Elon Musk said Friday that it’s “impossible” now to take Tesla to a special place.
  • “Tesla’s public duties are a much bigger factor, but the shift to the private sector is impossible now (sigh),” Musk wrote on Twitter.
  • Responding to another user, Musk said that “the company’s engineering, design, and general operations” was a “primary constraint” to spend more time innovating.
  • He also said it was “likely” that Starlink, the Internet satellite project for SpaceX, would be launched “as soon as revenue growth becomes reasonably expected.”
  • Visit Business Insider’s homepage for more stories.

Elon Musk said Friday that it is “impossible” now to make Tesla special – although doing so could lead to more innovation in the electric car maker.

Tesla’s share price is nearly eight times higher than it was at the start of the year, and that is the case Entered the S&P 500 As the fifth largest member on December 21.

Musk, in response to comments from YouTube Dave Lee on Twitter, Friday said That ‘engineering, design and general company operations’ was a ‘primary constraint’ to spend more time on innovation.

“Public Tesla duties are a much bigger factor, but the shift to the private sector is impossible now (sigh),” he wrote on Twitter.

The term “private sector conversion” refers to converting a publicly traded company into a private entity through, for example, the purchase of private shares.

Tesla’s market value of more than $ 600 billion would make it its largest acquisition ever.

In August 2018, musk He said he wanted to take a special Tesla, In comments that landed him in trouble with the Securities and Exchange Commission (SEC).

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“I’m thinking of making Tesla private at $ 420. Funding is guaranteed,” Musk wrote on Twitter at the time. The Securities and Exchange Commission argued that Musk did not have a strong deal in place, and that he therefore made a statement knowing or having reason to know it was “wrong and misleading.”

Forced to step down as president of Tesla.

Starlink IPO ‘Potential’

at Tweet laterMusk said that Starlink, A satellite internet project by his space company, SpaceX, will “likely” take off from SpaceX and go public “as soon as revenue growth is reasonably expected.”

Starlink is currently in public beta and participating It costs $ 600 up front. About 900 satellites broadcast the Internet to parts of the United States and Canada, and some users report speeds in excess of 200 megabits per second.

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Musk plans to move Starlink to other places in the world, including Europe, in 2021, and earlier in December SpaceX. Received $ 885 million in federal subsidies To expand Starlink to other places in the United States.

In total, SpaceX plans to transfer up to 42,000 Starlink satellites into orbit. The goal is to provide high-speed internet almost anywhere on Earth, and generate $ 30 billion to $ 50 billion in annual revenue.

This isn’t the first indication of Starlink’s public offering. “At the moment, we’re a private company, but Starlink is the right kind of business that we can go ahead with bringing to the public,” SpaceX’s chief operating officer, Gwen Shotwell, said in February, Bloomberg. “This particular piece is an element of the work that we are likely to release to the public.”

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