The world media spread the news about Elon Musk’s letter to his employees, in which he announced the “possible bankruptcy” of SpaceX. Musk wrote that the company is facing problems in the production of the Raptor engines, which are needed to launch the Starship spacecraft — 39 engines are required for one ship.
Clients of the fund managed by Raison Asset Management purchased SpaceX shares in September 2019 for $229. Their current return is 144.5%. The company’s capitalization recently exceeded $ 100 billion.
The Starship test launch, which is designed to fly to the moon, Mars and launch the second generation of Starlink satellites into orbit, is scheduled for January-February 2022. Next year the company plans to launch Starship with satellites on board at least once every two weeks.
In the letter, Musk urged employees to work harder, including in emergency mode and announced his own presence at the SpaceX plant during the holidays. Musk said the company “could face ruin if it slips with engine production.”
Is the problem really that big, or did the SpaceX CEO just want to motivate employees to be more efficient? Musk made no official announcement, but tweeted the following in response to the news:
“If a severe global recession were to dry up capital availability/liquidity while Spacex was losing billions on Starlink & Starship, then bankruptcy, while still unlikely, is not possible. Only the paranoid survive.”