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Elon Musk was telling the truth about his dad’s alleged emerald mine: Isaacson
Thanks to reports in the past and statements from his own father, Elon Musk’s name will always be related to a narrative suggesting that his family was obnoxiously wealthy because they owned an emerald mine. The emerald mine story is fodder for Musk critics, as it provides an argument that supports the narrative that Musk is fond of lying and that he never really worked his way up.
To be fair, some of the controversy surrounding Musk and his dad’s alleged emerald mine can be traced back to the SpaceX CEO himself. During a 2014 phone interview, Musk mentioned that his father, Errol Musk, “had a share in an emerald mine in Zambia.” Musk would later walk back on this statement, arguing years later that his father didn’t own an emerald mine.
Earlier this year, Musk provided some much-needed context about his apparent about-face with regards to his father’s supposed emerald mine. In a post on X, Musk explained that for a while, he believed his father when he was told Errol owned a share in a mine in Zambia. However, nobody has ever seen the mine and there are no records of it. Musk then noted that there’s just no “objective evidence whatsoever” that the mine ever existed.
I grew up in a lower, transitioning to upper, middle income situation, but did not have a happy childhood. Haven’t inherited anything ever from anyone, nor has anyone given me a large financial gift.
My father created a small electrical/mechanical engineering company that was…
— Elon Musk (@elonmusk) May 6, 2023
As per Walter Isaacson, whose book on the Tesla CEO is coming out this week, it turns out that Elon Musk was really telling the truth. Errol Musk never owned an emerald mine.
The biographer noted that Errol Musk used to own a light plane in the 1980s, and he sold it to an entrepreneur in 1986 in exchange for some emeralds. The emeralds were from a mine that the businessman owned in Zambia. Errol Musk confirmed with Isaacson that the mine was never registered, and he simply imported raw emeralds into South Africa and had them cut in Johannesburg.
“Many people came to me with stolen parcels. On trips overseas, I would sell emeralds to jewelers. It was a cloak-and-dagger thing because none of it was legal,” Errol Musk told Isaacson. The biographer also noted that Errol Musk’s emerald business collapsed during the 1980s, and he lost his earnings from it.
I only briefly lived with my Mom tbc lol
— Elon Musk (@elonmusk) May 7, 2023
From these comments, it would appear that while Errol Musk did have an emerald business for a while, it did not make the family ridiculously wealthy. This is quite in line with what Elon Musk has suggested in the past, though it is quite different from Errol Musk’s past claims. Errol, after all, has claimed in the past that the Musk family had so much money, they could not close their safe. Such an image, apart from being something straight out of a cartoon, is quite suspect considering that Maye Musk, Elon’s mother, stayed at a rent-controlled apartment when she and her children emigrated abroad.
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SpaceX reportedly mulling IPO, eyeing largest of all time: report
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock,” Musk said.
SpaceX is reportedly mulling an initial public offering, eyeing what would be the largest valuation at the time of availability of all time, a new report from Bloomberg said on Tuesday.
It is one of many reports involving one of Elon Musk’s companies and a massive market move, as this is not the first time we have seen reports of an IPO by SpaceX. Musk himself has also dispelled other reports in the past of a similar nature, including an xAI funding round.
SpaceX and Musk have yet to comment on the report. In the past, untrue reports were promptly replied to by the CEO; this has not yet gained any response, which is a good sign in terms of credibility.
Musk has discussed a potential IPO for SpaceX in recent months, as the November 6 shareholder meeting, as he commented on the “downsides” of having a public company, like litigation exposure, quarterly reporting pressures, and other inconveniences.
Nevertheless, Musk has also said he wants there to be a way for Tesla shareholders to get in on the action. At the meeting in early November, he said:
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock.”
Additionally, he added:
“Maybe at some point., SpaceX should become a public company despite all the downsides of being public.”
Musk has been historically reluctant to take SpaceX public, at times stating it could become a barrier to colonizing Mars. That does not mean it will not happen.
Bloomberg’s report cites multiple unidentified sources who are familiar with the matter. They indicate to the publication that SpaceX wants to go public in mid-to-late 2026, and it wants to raise $30 billion at a valuation of around $1.5 trillion.
This is not the first time SpaceX has discussed an IPO; we reported on it nine years ago. We hope it is true, as the community has spoken for a long time about having access to SpaceX stock. Legendary investor Ron Baron is one of the lucky few to be a SpaceX investor, and said it, along with Tesla, is a “lifetime investment.”
Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA
The primary driver of SpaceX’s value is Starlink, the company’s satellite internet service. Starlink contributes 60-70 percent of SpaceX’s revenue, meaning it is the primary value engine. Launch services, like Falcon 9 contracts, and the development of Starship, also play supporting roles.
SpaceX reached an incredible milestone with its Starlink program with a launch last night, as the 3,000th satellite of the year was launched into low Earth orbit.
On Monday, SpaceX also achieved its 32nd flight with a single Falcon 9 rocket from NASA’s Kennedy Space Center.
The mission was Starlink 6-92, and it utilized the Falcon 9 B1067 for the 32nd time this year, the most-used Falcon booster. The flight delivered SpaceX’s 3000th Starlink satellite of the year, a massive achievement.
There were 29 Starlink satellites launched and deployed into LEO during this particular mission:
Falcon 9 launches 29 @Starlink satellites from Florida pic.twitter.com/utKrXjHzPN
— SpaceX (@SpaceX) December 9, 2025
SpaceX has a current goal of certifying its Falcon boosters for 40 missions apiece, according to Spaceflight Now.
The flight was the 350th orbital launch from the nearby SLC-40, and the 3,000 satellites that have been successfully launched this year continue to contribute to the company’s goal of having 12,000 satellites contributing to global internet coverage.
There are over five million users of Starlink, the latest data shows.
Following the launch and stage separation, the Falcon 9 booster completed its mission with a perfect landing on the ‘Just Read the Instructions’ droneship.
The mission was the 575th overall Falcon 9 launch, highlighting SpaceX’s operational tempo, which continues to be accelerated. The company averages two missions per week, and underscores CEO Elon Musk’s vision of a multi-planetary future, where reliable connectivity is crucial for remote work, education, and emergency response.
As Starlink expands and works toward that elusive and crucial 12,000 satellite goal, missions like 6-92 pave the way for innovations in telecommunications and enable more internet access to people across the globe.
With regulatory approvals in over 100 countries and millions of current subscribers, SpaceX continues to democratize space, proving that reusability is not just feasible, but it’s also revolutionary.
Tesla expanded its new Full Self-Driving program, which gives people the opportunity to experience the company’s suite, in Europe.
Tesla recently launched an opportunity for Europeans to experience Full Self-Driving, not in their personal vehicles, but through a new ride-along program that initially launched in Italy, France, and Germany back in late November.
People could experience it by booking a reservation with a local Tesla showroom, but timeslots quickly filled up, making it difficult to keep up with demand. Tesla expanded the program and offered some additional times, but it also had its sights set on getting the program out to new markets.
It finally achieved that on December 9, as it launched rides in Denmark and Switzerland, adding the fourth and fifth countries to the program.
Tesla confirmed the arrival of the program to Denmark and Switzerland on X:
Now available in Denmark & Switzerland
🇩🇰 https://t.co/IpCSwHO566 https://t.co/V2N5EarLNX
— Tesla Europe & Middle East (@teslaeurope) December 9, 2025
The program, while a major contributor to Tesla’s butts in seats strategy, is truly another way for the company to leverage its fans in an effort to work through the regulatory hurdles it is facing in Europe.
Tesla has faced significant red tape in the region, and although it has tested the FSD suite and been able to launch this ride-along program, it is still having some tremendous issues convincing regulatory agencies to allow it to give it to customers.
CEO Elon Musk has worked with regulators, but admitted the process has been “insanely painful.”
The most recent development with FSD and its potential use in Europe dealt with the Dutch approval authority, known as the RDW.
Tesla says Europe could finally get FSD in 2026, and Dutch regulator RDW is key
Tesla said it believes some regulations are “outdated and rules-based,” which makes the suite ineligible for use in the European jurisdiction.
The RDW is working with Tesla to gain approval sometime early next year, but there are no guarantees. However, Tesla’s angle with the ride-along program seems to be that if it can push consumers to experience it and have a positive time, it should be easier for it to gain its footing across Europe with regulatory agencies.
SpaceX reportedly mulling IPO, eyeing largest of all time: report
SpaceX reaches incredible milestone with Starlink program
