Italy’s largest bank announced Friday that it invested in Elon Musk’s Space Exploration Technologies Corp. (SpaceX). The thesis behind the investment is very clear by the bank: Yet more evidence Democrats and their radical leftist corporate media outlets, who have been in an all-out crusade against the billionaire, are failing to ‘cancel’ him.
Intesa Sanpaolo SpA wrote in a press release.
Intesa Sanpaolo said SpaceX and has deployed the : Starlink. SpaceX’s achievements are why the bank
The bank did not reveal how much it invested nor at what valuation. The latest figures from a document sent by SpaceX Chief Financial Officer Bret Johnsen show SpaceX is worth around $81 a share, or about $140 billion market cap.
“To my knowledge, we do not need to raise incremental funding for SpaceX,” the billionaire said in April.
SpaceX remains one of the world’s most valuable private companies.
Musk laughed in June when asked in a live X audio interview with Bloomberg about a potential IPO for Starlink. He said it wouldn’t be “legal” for him to comment.
The next big development for SpaceX will be the second launch of the next-generation Starship rocket.
Starship stacked at Starbase ahead of flight, team continues to work with the FAA on a launch license pic.twitter.com/OfGDuGbZ0c
— SpaceX (@SpaceX) September 30, 2023
Democrats and their corporate media cheerleaders launched an all-out blitz last month against the billion in what some have deemed ‘Starlink-Gate’. The move was to cancel the billionaire, but it has proven to be an utter failure.