Elon Musk is back at it again. The man who is known for creating the pioneering car manufacturer, Tesla, is now working on space travel. SpaceX, his newest venture specializes in space travel and rocket making. In what has become a hot topic in media and news, his goal is to eventually colonize Mars. However in the meantime, Musk has used his newest project to send satellites into space with the goal of moving supplies at lower costs. To lower expenses, though, greater funding is required at the onset. The startup has already gained over $21 billion in funding and the privately held project recently gained over $350 million worth of additional support at a level twice as much as its original valuation.

The main question now is, will SpaceX be a publicly traded company any time soon? What would be sure to gain a plentiful amount of investors is not so quick to share the wealth. Musk has been on record as saying that he will be making his project public once flights to Mars become a regular occurance here on our planet. Being privately held has and will remain beneficial in the short term as company dealings and developments are kept out of the public eye. With no stockholders to please or keep financially happy, it allows business ideas to flow through Musk and his team of engineers. No outsider pressure seems to be working just fine.

So in the short time it looks like you wont be investing in SpaceX, but who can say for sure what will happen? Will it be advantageous for the space travelling startup to gain outside funding? Only time will tell, but it’s safe to say that the 21st century mastermind is on to something yet again.

SHARE
Previous articleAuthor Background – Ernest Hemingway
Next articleUnited States Oil (USO)
Richard Pallot
Richard currently works in finance & accounting down in South Florida. With a background in investing as well, be on the lookout for stories and tips to keep you up to speed and enlightened on all your business interests.