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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Elon Musk disputes SpaceX’s Saudi, UAE financing ambitions.

Elon Musk Photo Credit: Theo Wargo Elon Musk Photo Credit: Theo Wargo
Elon Musk Photo Credit: Theo Wargo Elon Musk Photo Credit: Theo Wargo

Businessman and investor Elon Musk. He founded SpaceX, Tesla, Twitter, The Boring Company, Neuralink, OpenAI, and the Musk Foundation. Musk is the world’s second-richest individual, according to the Bloomberg Billionaires Index and Forbes’s real-time billionaire list, with an estimated net worth of $196 billion as of February 15, 2023.

Musk co-founded direct bank X.com after Compaq bought Zip2 for $307 million in 1999. eBay bought PayPal for $1.5 billion in 2002 after X.com merged with Confinity in 2000.

Musk established SpaceX in 2002 with $175.8 million. He invested in Tesla Motors in 2004. (now Tesla, Inc.). In 2008, he became CEO, chairman, and product architect. He founded SolarCity, which Tesla eventually bought and renamed Tesla Energy in 2006. He co-founded OpenAI in 2015. He co-founded Neuralink and The Boring Corporation the following year. Musk also proposes a hyperloop vactrain. He bought Twitter for $44 billion in 2022.

SpaceX billionaire founder Elon Musk denied a media report earlier this week that Saudi Arabia and the UAE will invest in a multi-billion dollar round on Friday.

According to the Information, a Saudi Arabian investment fund arm and an Abu Dhabi business want to invest in SpaceX’s multi-billion dollar financing round.

“Not true,” Musk tweeted.

The study valued the rocket company at $140 billion.

SpaceX received $2 billion in 2022 and $2.6 billion in 2020 from Space Capital.


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