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Mon, Sep 03, 2012

Elon Musk Considering A Holding Company For SpaceX, Tesla

Company Would Not Be Publicly Traded

The founder of both SpaceX and electric car maker Tesla Motors is mulling a plan that would create a holding company that would own stock in both companies, but Elon Musk (pictured) says the stock would not be publicly traded.

Reuters reports that Musk made the comments while answering questions at an automotive website. He wrote on Jalopnik.com on Thursday that he was in the process of determining if it made sense to form an umbrella corporation to own stock in both the companies.

Tesla is currently the primary revenue center for Musk. It just introduced its second electric car, dubbed the "Model S", which has a base sticker price of $57,400. SpaceX recently sent the first private cargo vessel to the ISS in a demonstration flight for NASA.

Musk is considered a savvy businessman, having made his fortune through the sale of his company PayPal to eBay. He has hinted that SpaceX may one day be traded publicly. He has predicted that there will one day be electric race cars, and said he has been considering the development of an electric supersonic jet for about four years.

FMI: www.spacex.com, www.teslamotors.com

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