Musk bought $1.4 billion SpaceX shares last year, The Information reports


April 21 (Reuters) – Elon Musk increased his stake in SpaceX ‌last year by purchasing $1.4 ‌billion worth of stock from current and ​former employees, The Information reported on Tuesday.

The secondary stock purchase, made through Musk’s trust, was ‌disclosed in ⁠a draft of SpaceX’s confidential IPO prospectus, the report ⁠said.

SpaceX also approved a plan last month that would ​award the ​billionaire CEO ​60 million additional ‌shares if the company’s market capitalization climbs from $1.1 trillion to as high as $6.6 trillion and completes an ambitious plan of building ‌data centers in ​space to supply ​compute for ​AI developers, The ‌Information said.

Reuters could not ​immediately verify ​the report.

SpaceX did not immediately respond to a request for ​comment.

(Reporting ‌by Chandni Shah in Bengaluru; ​Editing by Janane Venkatraman ​and Mrigank Dhaniwala)



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