Billionaire Elon Musk decided to list Starlink for an IPO as soon as he anticipated the cash flow for its satellite internet service reasonably well, giving investors an opportunity to own a promising part of his SpaceX company.
According to Arabiyanet, citing Twitter, Musk responded to a question on where a user asked: Will Starlink be IPO soon?
Before this question, Musk was responding to posts about Starlink's service charges. According to Bloomberg, and seen by Al Arabiya.net.
Space Exploration Technologies is launching satellites at its Falcon 9 rockets and now has about 1,000 satellites in orbit to send the Internet to Starlink customers on the ground.
Musk wrote in another tweet: “SpaceX needs to go through a deep chasm in negative cash flow over the next year or so to make Starlink financially viable,” he said. That all the satellite companies went bankrupt and we hope to be the first to overcome that.
SpaceX's chief operating officer, Gwen Shotwell, said last year that Starlink is the business the company is likely to release to the public.
Tesla has made incredible gains in the stock market, rising by 743% in 2020 and climbing another 22% this year.
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