Musk's SpaceX postpones Starship launch as mega share sale looms
Source: BBC Technology
Launch postponement
Elon Musk’s SpaceX has postponed the launch of its massive Starship rocket, planning another attempt on Friday.
Musk said on social media that the delay was caused by a malfunctioning hydraulic pin on part of the launch tower.
”If that can be fixed tonight, there will be another launch attempt tomorrow at 5:30 CT [22:30 GMT],” he added.
Reuters
The uncrewed launch will mark the debut of the Starship V3 rocket after months of testing delays.
Financial context and IPO
SpaceX is preparing for an initial public offering (IPO) on the Nasdaq, which could become the largest in Wall Street history. The offering may start next month under the ticker symbol SPCX.
Because of the shares he will own in SpaceX, the listing could make Musk, already the world’s richest person, the first‑ever trillionaire.
Starship specifications
SpaceX describes the Starship V3 as “the most powerful launch system ever developed” in its IPO filing. Key points include:
- Expected payload capacity: 100 metric tons (future generations aim to double this).
- Dozens of upgrades designed for rapid launches of Starlink satellites and NASA missions to the Moon.
Company financials
- Total spending on the Starship programme: more than $15 bn (£11.2 bn).
- Valuation: $1.25 tn; Musk’s majority ownership could make his stake worth over $600 bn.
- 2023 revenue: $18.6 bn with a net loss of $4.9 bn.
- First quarter of 2024: $4.7 bn in sales and a net loss of $4.3 bn.
SpaceX also manufactures rockets, operates the satellite internet service Starlink, and owns the artificial intelligence firm xAI.