Elon Musk, the billionaire founder of SpaceX, denied on Friday a media report from earlier this week that Saudi Arabia and the United Arab Emirates were planning to invest in a multibillion-dollar funding round in the company.
The Information reported on Wednesday that a unit of Saudi Arabia’s investment fund and an Abu Dhabi-based company is planning to invest in a multibillion-dollar funding round for SpaceX, citing people familiar with the discussions.
In response to the report, Musk tweeted “not true.”
According to the report, the funding round is expected to value the rocket manufacturer at around $140 billion.
According to Space Capital, SpaceX raised $2 billion in 2022 and $2.6 billion in 2020.
