SpaceX CEO Elon Musk Denies Multi-Billion Dollar Funding from Saudi and UAE

Elon Musk, CEO of SpaceX, has denied recent reports that the company is in talks to secure multi-billion dollar funding from Saudi Arabia and the United Arab Emirates (UAE).

The reports, which were first published in a UK-based newspaper, claimed that SpaceX was in discussions with the two Gulf states to secure up to $30 billion in funding for the company’s ambitious space exploration plans. The reports also suggested that the funding would be used to support SpaceX’s Starship spacecraft, which is currently under development and is expected to be used for missions to the moon, Mars, and beyond.

However, in a statement on Twitter, Musk dismissed the reports as “inaccurate.” He stated that while SpaceX has had discussions with various investors about its plans, it has not received any funding from Saudi Arabia or the UAE.

“Reports that SpaceX is raising money from Saudi Arabia are untrue,” Musk tweeted. “There is no such investment from Saudi Arabia. The journalist who wrote this is not aware of the facts.”

Musk’s denial comes amid increasing scrutiny of Saudi Arabia’s investments in tech companies, following the murder of journalist Jamal Khashoggi in 2018. The Saudi government has been accused of using its investments to gain influence in the tech industry, and several companies, including Uber and WeWork, have faced backlash for accepting Saudi funding.

Despite the denial, SpaceX has been successful in securing funding from other sources. In March, the company raised $850 million in a funding round led by Sequoia Capital, with participation from several other investors. The funding brought the company’s valuation to over $74 billion, making it one of the most valuable private companies in the world.

Overall, while reports of SpaceX securing funding from Saudi Arabia and the UAE may have been premature, the company remains well-funded and continues to make progress on its ambitious space exploration plans