Will SpaceX take funding from Saudi Arabia, UAE? Elon Musk has something to say | World News - Hindustan Times
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Will SpaceX take funding from Saudi Arabia, UAE? Elon Musk has something to say

Reuters | | Posted by Shobhit Gupta
Mar 24, 2023 01:47 PM IST

SpaceX raised $2 billion in 2022 and $2.6 billion in 2020, according to venture capital firm Space Capital.

Elon Musk, the billionaire founder of SpaceX, on Friday denied a media report from earlier this week that said investors from Saudi Arabia and the United Arab Emirates were planning to invest in a multi-billion dollar funding round in the company.

SpaceX CEO Elon Musk.(AP)
SpaceX CEO Elon Musk.(AP)

A unit of Saudi Arabia's investment fund and an Abu Dhabi-based company are planning to invest in a multi-billion dollar funding round for SpaceX, the Information had reported on Wednesday, citing people familiar with the discussions.

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Musk tweeted "not true" responding to the report.

The funding round is expected to value the rocket maker at about $140 billion, the report added.

SpaceX raised $2 billion in 2022 and $2.6 billion in 2020, according to venture capital firm Space Capital.

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