Musk is planning Starlink IPO

Tesla founder Elon Musk has plans to list SpaceX's space internet venture, Starlink.

The billionaire said Wednesday (June 23) that the IPO would happen when its cash flow is reasonably predictable.

In a Tweet Musk said:

"Going public sooner than that would be very painful"

Responding to a question on Twitter, where a user asked: "Any thoughts on first dibs for Tesla retail investors?" Musk said:

"Will do my best to give long-term Tesla shareholders preference."

Starlink is a planned network of tens of thousands of satellites in low-earth orbit, which aims to offer fast internet speeds globally.

Musk has previously said that Starlink will be a crucial source of funding for his broader plans.

These include developing the Starship rocket to fly paying customers to the moon, and eventually trying to colonise Mars.

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