Musk: The rumors about SpaceX raising funds at an $800 billion valuation are inaccurate.

On December 7, local time Saturday, Musk refuted media reports that SpaceX is raising funds at an $800 billion valuation, stating that these reports are inaccurate. Musk explained, “SpaceX has been cash flow positive for years, with biannual share buybacks to provide liquidity for employees and investors. The increase in valuation is mainly due to the ongoing progress of the Starship and Starlink projects, as well as the successful acquisition of global direct-to-cell spectrum licenses, which has greatly expanded our addressable market. Additionally, and perhaps most crucially: as much as I like NASA, next year, NASA-related contracts will account for less than 5% of our total revenue. Currently, the commercial Starlink business is SpaceX’s largest source of revenue. Some claim that SpaceX receives subsidies from NASA, but this is completely false. SpaceX wins NASA contracts because we offer the best products at the lowest cost. In the field of crewed space transportation, SpaceX is currently the only option that meets NASA’s safety standards.” (Jin10)