SpaceX plans to add more ground infrastructure at its launch site in South Texas and likely won’t need to seek new funding, Elon Musk said
ended after about four minutes when a flight-termination system on the vehicle destroyed it as the rocket began to tumble.
Space Exploration Technologies Corp., the formal name for the Hawthorne, Calif.-based SpaceX, is privately held and doesn’t disclose financial information. The company has raised outside funds from investors over the years, including fromElon Musk said SpaceX likely won’t need to seek new funds despite the expected Starship spending.SpaceX has been developing the rocket, which stands nearly 400 feet tall when fully stacked, for several years.
Despite the expected Starship spending, the company likely won’t need to seek new funds, Mr. Musk indicated. “To the best of my knowledge, we do not need to raise incremental funding for SpaceX,” he said. The company will continue to provide opportunities to let employees sell their shares, he added. Last year SpaceX was valued atduring a period when employees could sell shares, The Wall Street Journal reported.
SpaceX is now working to put additional ground infrastructure at the company’s launchpad in Texas, located adjacent to the Gulf of Mexico and east of the city of Brownsville.Catch up on the headlines, understand the news and make better decisions, free in your inbox every day.
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