Musk Likely to Pursue IPO for SpaceX's 'Starlink' Project

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Suhwan] Elon Musk, CEO of Tesla, has expressed his intention to pursue an initial public offering (IPO) for Starlink, the satellite internet service business of his space exploration company SpaceX.

According to a CNBC report on the 23rd (local time), Musk stated on Twitter in response to a user's question about the possibility of a Starlink IPO that he would take Starlink public once its cash flow becomes reasonably predictable.

Musk also emphasized that he will do his best to ensure that Tesla shareholders benefit.

He had previously indicated expectations that Starlink would be a key funding source for broad plans such as the development of the Starship rocket.

Last year, Gwynne Shotwell, President of SpaceX, also mentioned the possibility of spinning off Starlink and pursuing an IPO.

Starlink is a project to build a high-speed internet service available worldwide by launching 12,000 low-earth orbit small satellites. SpaceX completed the first orbital satellite network construction for Starlink last month.

SpaceX plans to gradually build five orbital satellite networks called "Shells" and aims to complete the first phase of the satellite internet business by March 2027.

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