Though its interplanetary goals are yet to be achieved, the company currently generates revenue through commercial and government contracts. These contracts make use of SpaceX rockets for a range of objectives, including launching satellites into orbit and resupplying the International Space Station.
In , SpaceX demonstrated its ability of returning a spacecraft from low Earth orbit. In , the company delivered cargo to and from the International Space Station via its Dragon spacecraft. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus with this and other information about The Private Shares Fund the "Fund" , please download here , or call Read the prospectus carefully before investing.
Investment in the Fund involves substantial risk. The Fund is not suitable for investors who cannot bear the risk of loss of all or part of their investment. The Fund is appropriate only for investors who can tolerate a high degree of risk and do not require a liquid investment. The Fund has no history of public trading and investors should not expect to sell shares other than through the Fund's repurchase policy regardless of how the Fund performs. The Fund does not intend to list its shares on any exchange and does not expect a secondary market to develop.
All investing involves risk including the possible loss of principal. The Fund intends to primarily invest in securities of private, late-stage, venture-backed growth companies. There are significant potential risks relating to investing in such securities. There are significant potential risks associated with investing in venture capital and private equity-backed companies with complex capital structures. Those two facts, along with details disclosed in the various filings, certainly raise the possibility that he's pumping money into SpaceX.
Most Tesla shares sold to cover taxes. Musk sold The sales took place on 11 separate days spread out from November 8 through December Those options had been due to expire on August 13, , so it made sense for him to use them to buy the shares. But once he did so, the value of the shares, less the modest exercise price, became taxable income.
Musk sold shares immediately after exercising the options, with the SEC filing noting that the transactions were made "solely to satisfy the reporting person's tax withholding obligations related to the exercise of stock options.
But not all of them. The most recent sales included the notation that , shares that were sold on December 28 were "solely" to cover his tax bill. And this isn't the first time this year that a Musk sale of Tesla shares for purposes other than paying taxes was closely followed by SpaceX reporting a new infusion of equity investment.
From November 9 through 11, Musk sold 5. Those were shares he held in a trust, not shares he had just acquired as part of the exercise of options. There's no indication in the filings as to why he completed those sales, which mark the first time he has sold shares that he has held for an extended period, rather than those he just acquired through the exercise of options.
But it's equally possible that the motivation was to provide much needed cash for SpaceX. A cash-hungry SpaceX. That cash infusion arrived at an important time. In an email sent to SpaceX staff just before Thanksgiving, Musk reportedly warned that the company was facing a cash crisis due to problems developing the Raptor rocket engines and Starship rockets needed to launch its Starlink satellites in Starlink is a constellation of satellites designed to provide high speed Internet service from orbit.
Musk's email said that the company needed virtually all employees at work during the Thanksgiving holiday weekend to address the problems. He also said the company planned to ramp up production of ground stations needed to connect Starlink customers to the Internet. He said it would be making "several million units per year," which he said will "consume massive capital. In a tweet that followed reports of the email, Musk said that problem with the Starship rocket and its Raptor engines were " getting fixed.
The money that Musk and other investors have poured into it could lead to a financial bonanza once the company goes public. While the names of whomever purchased those additional shares are not public, the amounts of four separate infusions were disclosed in filings with the SEC.
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SpaceX Funding Rounds ; Series H · Nov , 3,,, $, $ m ; Series I. Apr , 1,,, $, $ m. For our latest videos, subscribe to our YouTube channel. First Published Date: 17 May, PM IST. Tags: SpaceX Elon Musk. SpaceX. Aerospace | Founded: | Funding to Date: $B use of SpaceX rockets for a range of objectives, including launching satellites into orbit.