Musk's SpaceX postpones Starship launch as mega share sale looms
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Elon Musk's SpaceX has postponed a launch of its massive Starship rocket and said it plans to make another attempt at the highly-anticipated test flight on Friday.
Key facts
Last year, Space Exploration Technologies
as it is officially known
brought in $18.6bn in revenue but had a net loss $4.9bn
If that can be fixed tonight, there will be another launch attempt tomorrow at 5:30 CT [22:30 GMT]," he added
SpaceX values itself at $1.25tn, and Musk's majority ownership of the company means his share could be worth more than $600bn
In the first three months of this year, it achieved $4.7bn in sales but made a net loss of $4.3bn
Summary
It comes a day after the firm revealed plans for a record-breaking stock market debut, where the successful launch of the powerful new rocket could help entice investors into buying shares. The initial public offering (IPO) on the tech-heavy Nasdaq stock market is set to be the largest in Wall Street history and could start next month under the ticker symbol SPCX. Because of the shares he will own in SpaceX, the listing could make Musk, who is already the world's richest person, the first-ever trillionaire. Musk said on social media that the delay was caused by a malfunctioning hydraulic pin on part of the launch tower.