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Firefly nears second orbital launch attempt as US forces Ukrainian founder to divest
While the rocket startup he is responsible for resurrecting is preparing for a second orbital launch attempt, a Ukrainian multimillionaire – an entrepreneur, businessman, and the founder of Firefly Aerospace – has once again been forced to take extreme actions by the US government.
Resurrected in 2017 after going bankrupt and ceasing operations the year prior, Firefly is a private launch provider based out of Austin, Texas and founded by Maxim Polyakov and former CEO Tom Markusic. Polyakov has supported the company since its second inception, privately funding the startup with over $200 million earned through success in Ukrainian tech industries. With those contributions, Polyakov was able to singlehandedly resurrect the startup from bankruptcy and continue the development of an even more ambitious Alpha launch vehicle.
For the last two years, though, Polyakov has been under scrutiny from US government officials, who’ve objected to Polyakov – a Ukrainian and UK citizen – having control over the company, with fears that the launch technology developed by the company could make its way back to Ukraine and poses a national security threat.
The update that's rolling out to the fleet makes full use of the front and rear steering travel to minimize turning circle. In this case a reduction of 1.6 feet just over the air— Wes (@wmorrill3) April 16, 2024
In late 2020, Polyakov quietly stepped down as chairman and withdrew from Firefly’s day-to-day operations in the hopes of killing the controversy and giving the startup a better chance at being awarded government contracts. Firefly’s board of directors includes many former U.S government officials, including Deborah Lee James, former secretary of the Air Force, and Robert Cardillo, former director of the National Geospatial Intelligence Agency.
However, officials were not satisfied with Polyakov simply stepping down from operations, indicating they want him to have less ownership in the company as well. In November 2021, just two months after Firefly’s inaugural flight test, Polyakov received a letter from the Committee on Foreign Investment in the U.S (CFIUS). This letter expressed these ongoing concerns and asked that he, along with his investment company, Noosphere Venture Partners, sell their stock in Firefly; which amounted to over 50% stake in the company. Because of this request, Firefly halted their operations at Vandenberg Air-force Base.
Before halting launch operations, Firefly claimed to be on track for another Alpha launch as early as January 2022. Firefly’s first launch on September 2nd, 2021 ended in failure around two minutes after liftoff due to a premature engine shutdown. Jason Mello, president of Firefly Space Transportation Services, stated in an interview that fixing the problem responsible for the failure was “fairly easy and straightforward.”
On February 16th, 2022 Polyakov revealed that the United States government had once again gone on the offensive, this time forcing him to fully and permanently cede any involvement in his company. He posted the following statement on Facebook:
Polyakov revealed that he chose to sell his 58% stake in the company to co-founder and CEO Tom Markusic for $1 USD – a selfless act given that selling his stake for nothing all but guarantees he will never recoup a cent of the several hundred million dollars he invested in Firefly.
Previously, Polyakov expressed how excited he was to turn Firefly into a massive aerospace company that both the United States and Ukraine could be proud of and benefit from. “During the Soviet era, Ukraine produced some of the world’s best rocket and engine technology, but much of those inventions have languished in recent years due to lack of investment. The hope was that Firefly could pair its best engineers from the U.S. and Ukraine together to make a fleet of large rockets capable of taking many satellites into orbit and, later on, missions to the moon. Polyakov wanted the U.S. to gain access to Ukrainian expertise, while also finding a way to boost the prospects of Ukrainian aerospace engineers, he has said.” (Bloomberg)
It is speculated that the US government’s sudden and extreme requests came because of concerns over the rising tensions caused by Russia’s increasingly unstable posturing and recurring threats of invasion. Even though Ukraine is friendly with the United States, concerns of conflict with Russia may have increased worries about what might happen to technology developed inside of the country. Ukraine, a sovereign nation, has been forced to increase security along its borders as fear of a Russian invasion grows.
Despite the recent legal and organizational setbacks and drama caused by the US government, Firefly has been doing extremely well from a technical standpoint. The company recently shared a video of the successful static fire testing of both stages of the second Alpha rocket, indicating that it could be ready for flight in the very near future. Even though Polyakov was forced to abandon his aerospace startup, it’s never been more clear that his investment not only saved Firefly but raised the company closer to success than it’s ever been before.
News
Tesla begins ‘honorable discharge’ of Model S, X with massive move
In a significant development that marks the beginning of the end for two of its longest-running models, Tesla has removed the custom order configurator for the Model S sedan and Model X SUV from its website.
Tesla has officially started the “honorable discharge” of the Model S and Model X with a massive move, removing the two vehicles from Custom Orders and only offering inventory options.
It is the latest move Tesla has made to pull the Model S and Model X from its lineup, a decision CEO Elon Musk announced during its last quarterly earnings call.
Tesla brings closure to flagship ‘sentimental’ models, Musk confirms
In a significant development that marks the beginning of the end for two of its longest-running models, Tesla has removed the custom order configurator for the Model S sedan and Model X SUV from its website.
As of April 1, visitors to tesla.com/model-s and tesla.com/modelx are now redirected exclusively to limited inventory listings rather than a design studio, allowing buyers to select paint, wheels, interior options, or performance upgrades. Only pre-built vehicles currently in stock are available for purchase or lease.
Tesla CEO Elon Musk confirmed the change directly on X, posting: “Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.”
Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.
We will have an official ceremony to mark the ending of an era. I love those cars.
This was me at production launch 14 years ago: pic.twitter.com/6kvCf9HTHc
— Elon Musk (@elonmusk) April 1, 2026
We will have an official ceremony to mark the end of an era.” Accompanying the statement was a throwback photo from the Model S production launch in 2012, underscoring the emotional weight of the decision.
Musk had first signaled the phase-out during the company’s Q4 2025 earnings call in January, describing it as time for an “honorable discharge” of the programs to free up resources at the Fremont factory for Optimus humanoid robot production and autonomous vehicle initiatives.
The Model S, introduced in 2012, and the Model X, which followed in 2015, were instrumental in establishing Tesla as a premium electric vehicle leader.
The sedan offered class-leading range and acceleration, while the SUV’s signature falcon-wing doors became an iconic feature. Together, they proved EVs could compete in the luxury segment. Yet sales volumes have dwindled in recent years as Tesla prioritized higher-volume Model 3 and Model Y vehicles.
The flagships now represent a tiny fraction of overall deliveries, making continued custom production inefficient as the company accelerates toward robotaxis and next-generation platforms.
Prospective buyers are urged to act quickly. Remaining U.S. inventory vehicles—some nearly new—may include incentives such as lifetime free Supercharging, Full Self-Driving (Supervised) capability, and premium connectivity, depending on configuration.
Leasing options start around $1,699 per month for select Model X units, though exact pricing and availability fluctuate. International markets, including Europe and China, have already seen similar restrictions in recent months.
The move aligns with Tesla’s broader strategy to streamline its lineup and redirect manufacturing capacity toward autonomy and AI-driven products. While some enthusiasts lament the loss of personalization, the company views the transition as necessary progress.
Tesla has indicated that once the current inventory sells out, new Model S and Model X vehicles will no longer be offered.
For loyal owners and fans, the promised “official ceremony” may provide a fitting send-off. In the meantime, the website change serves as a clear signal: the era of bespoke flagship Teslas has quietly concluded, and the focus has fully shifted to the future.
Elon Musk
SpaceX files confidentially for IPO that will rewrite the record books
SpaceX files confidentially for a record-breaking IPO targeting a $1.75T valuation and $80B raise, driven by Starlink growth and its xAI merger.
Elon Musk’s rocket and satellite company submitted its draft registration to the U.S. Securities and Exchange Commission today for an initial public offering, targeting June at a $1.75 trillion valuation. This would be the largest in history.
SpaceX has filed confidentially with the SEC, first reported by Bloomberg. SpaceX would be valued above every S&P 500 company except Nvidia, Apple, Alphabet, Microsoft, and Amazon.
The filing uses a confidential process that allows companies to work through SEC disclosures privately before initiating a public roadshow. With a June target, official details through a formal prospectus is expected to go public in April or early May, after which SpaceX must wait at least 15 days before beginning investor marketing.
While SpaceX is best known for its Falcon 9 and Starship rockets, the $1.75 trillion valuation is anchored by Starlink, its satellite internet service. Starlink ended 2025 with 9.2 million subscribers and over $10 billion in revenue, which is a figure analysts project could reach a staggering $24 billion by the end of 2026. A February all-stock merger with xAI, Musk’s artificial intelligence venture, further boosted the valuation.
SpaceX officially acquires xAI, merging rockets with AI expertise
Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are lined up as senior underwriters. SpaceX is also considering a dual-class share structure to preserve insider voting control, and plans to allocate up to 30% of shares to retail investors, which is roughly three times the typical norm.
Elon Musk
Elon Musk hints at “official ceremony” with throwback photo to close Tesla Model S, Model X chapter
Elon Musk promises an official ceremony to mark the end of Tesla Model S and Model X production.
Tesla has officially begun winding down production of the Model S and Model X, sending farewell emails to U.S. customers on March 27 and updating the website to reflect the end of the line. Shoppers visiting Tesla.com now find only a limited set of Model S and Model X inventory units available for purchase, with no option to configure a new factory build. The move formalizes what CEO Elon Musk announced on the company’s Q4 2025 earnings call in January, when he said it was “time to basically bring the Model S and X programs to an end with an honorable discharge.”
Musk posted on X a throwback photo of himself speaking at the Model S production launch in 2012, and noting “We will have an official ceremony to mark the ending of an era. I love those cars.”
The mention of an official ceremony is notable. Tesla has not held a formal farewell event for a vehicle before, and Musk’s wording suggests this will be something deliberate rather than a quiet line shutdown. Given that Musk’s X post shows a photo of him on stage with a microphone in front of an audience at the Fremont factory, it wouldn’t be too far-fetched to expect a closing ceremony to take place at the same location. Perhaps? Whether it becomes a public event, a private gathering for employees, or a livestreamed moment on X remains to be seen.
Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.
We will have an official ceremony to mark the ending of an era. I love those cars.
This was me at production launch 14 years ago: pic.twitter.com/6kvCf9HTHc
— Elon Musk (@elonmusk) April 1, 2026
The Model S first went on sale nearly fifteen years ago and was Tesla’s first fully in-house designed vehicle, proving that an electric car could be fast, desirable, and capable of long distance on a single charge. The Model X followed in 2015, turning heads with its unmistakable and distinctive falcon-wing doors, while becoming one of the first all-electric SUVs on the market. Tesla’s two flagship vehicles would ultimately push legacy automakers to take all-electric transportation seriously and help fund development of the more affordable Model 3 and Model Y.
By 2025, however, both models had been reduced to a rounding error in Tesla’s sales figures. Musk was direct about what comes next, stating “We are going to convert that production space to an Optimus factory. It’s part of our overall shift to an autonomous future.”
Elon Musk’s $10 Trillion robot: Inside Tesla’s push to mass produce Optimus
That shift is already underway. Tesla officially started Optimus Gen 3 production at its Fremont factory in January 2026, with the line targeting a run rate of one million units per year. The Gen 3 robot features 22 degrees of freedom per hand, runs on Tesla’s AI5 chip, and shares the same neural network architecture as Full Self-Driving. A dedicated Optimus factory at Gigafactory Texas is also under construction, with a planned annual capacity of 10 million units. The production lines that once built the Model S and Model X are being converted to support that ramp.
Tesla confirmed it will continue to support existing owners with service, software updates, and parts for as long as people own the vehicles. For buyers still interested in a new example, remaining U.S. inventory is discounted and the window is closing fast.
Tesla begins ‘honorable discharge’ of Model S, X with massive move
SpaceX files confidentially for IPO that will rewrite the record books
Elon Musk hints at “official ceremony” with throwback photo to close Tesla Model S, Model X chapter
Elon Musk says Tesla is developing a new vehicle: ‘Way cooler than a minivan’
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