Elon Musk reiterated a pledge he made in the past about longtime Tesla shareholders and those who wish to invest in his other projects. As per Musk in a recent post on social media platform X, loyal shareholders deserve loyalty.
Musk is most publicly known for his CEO role in Tesla and SpaceX, but he is also involved a variety of other projects. These include the tunneling startup, The Boring Company, the brain machine interface company Neuralink, social media platform X, and artificial intelligence firm xAI. Among these companies, only Tesla is public and is open to regular investors.
As per Musk in his recent post on X, he would prioritize longtime shareholders of his existing companies if ever a new project goes public. “I’ve mentioned something like this before, but, if any of my companies goes public, we will prioritize other longtime shareholders of my other companies, including Tesla. Loyalty deserves loyalty,” Musk wrote.
I’ve mentioned something like this before, but, if any of my companies goes public, we will prioritize other longtime shareholders of my other companies, including Tesla.
— Elon Musk (@elonmusk) June 9, 2024
Loyalty deserves loyalty.
Musk’s companies tend to grow fast, and this is definitely the case with SpaceX, whose Starlink satellite internet business seems poised to be capable of operating as a separate entity. Starlink currently dominates the satellite internet service segment worldwide, and it also operates one of the largest fleets of satellites currently orbiting Earth. This has brought speculation that Starlink may be spun off from SpaceX as a public company.
The idea of a Starlink IPO has been around for some time, though Musk has hinted in the past that he is in no rush to spin off his satellite internet business as a public company. During an all-hands update for SpaceX in 2022, Musk suggested that a Starlink IPO could happen in 3-4 years, which, at the time, translated to a potential Starlink public offering in 2025 or 2026.
“I’m not sure exactly when that is, but maybe it will be like — I don’t know, just guessing — three or four years from now,” Musk noted, stating that by this time, “I think spinning it off as a public company can make a lot of sense.” Considering Musk’s recent post on X, it would appear that he is still intent on prioritizing longtime TSLA shareholders in the event that a project like Starlink does enter the public market.
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