Elon Musk increased his stake in SpaceX by purchasing $1.4 billion in stock from employees. This was revealed in SpaceX's IPO prospectus. Additionally, SpaceX plans to award Musk 60 million shares if it meets its market cap goals and builds space data centers for AI.

Elon Musk Boosts SpaceX Stake with $1.4 Billion Stock Purchase

Elon Musk, the prominent tech billionaire, has reportedly expanded his investment in SpaceX by acquiring $1.4 billion worth of stock from current and former employees, according to The Information. This increase in stake was highlighted in a draft of the company's confidential IPO prospectus, the publication stated.

The report also mentioned that SpaceX approved a plan last month to award Musk an additional 60 million shares if the aerospace company achieves a significant market capitalization increase from $1.1 trillion to $6.6 trillion. The ambitious plan includes constructing data centers in space to cater to AI developers, representing a major leap in innovation and infrastructure.

Despite the revelations, Reuters was unable to independently verify these claims, and SpaceX has yet to issue an official comment regarding the report.