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Elon Musk bought $1.4 billion worth of SpaceX stock last year
Golden Finance reports that on April 21, according to The Information, Elon Musk purchased $1.4 billion worth of company stock from current and former SpaceX employees, increasing his personal stake. This series of transactions was part of the company’s pre-IPO planning, aimed at strengthening its control over the enterprise. The large secondary market stock purchase was completed by this billionaire’s family trust and was disclosed in SpaceX’s private IPO prospectus draft. The document also revealed a new equity incentive plan: if SpaceX’s valuation rises to several trillion dollars, Musk will be granted tens of millions of shares. It is currently unclear what company valuation corresponds to Musk’s recent stock purchase.