Tesla founder Elon Musk revealed that prior to taking Tesla public, he would have preferred to utilize more time to focus on innovation. He also explained that it would no longer be feasible to revert Tesla back to a private company.
In response to a tweet that he posted where he revealed his desire to focus more time on innovation, Musk gave the following explanation: “Engineering, design & general company operations absorb the vast majority of my mind & are the fundamental limitation on doing more.”
Despite Musk’s retrospective desire to delay Tesla’s IPO, the company’s shares have skyrocketed eightfold this year, even being included in the S&P 500 this week.
In addition to creating a string of millionaires out of its investors, Tesla shares have increased Musk’s net worth from $132.2 billion to $159.7 billion. According to the Bloomberg Billionaire Index, this makes Musk the second richest person in the world.
Musk also revealed his next business that he plans to make public: Starlink, a space-internet business and project of SpaceX. This will only occur once its revenue becomes “predictable” in Musk’s eyes.
NASA and Starlink agreed on a contract that would enable them to one day release a spacecraft that’ll bring astronauts back to the moon in 2024.
