Musk bought US$1.4 billion SpaceX shares last year, The Information reports

Elon Musk increased his stake in SpaceX last year by purchasing US$1.4 billion(HK$10.96 billion) worth of stock from current and former employees, The Information reported on Tuesday.

The secondary stock purchase, made through Musk's trust, was disclosed in a draft of SpaceX's confidential IPO prospectus, the report said.

SpaceX also approved a plan last month that would award the billionaire CEO 60 million additional shares if the company’s market capitalization climbs from US$1.1 trillion to as high as US$6.6 trillion and completes an ambitious plan of building data centers in space to supply computers for AI developers, The Information said.

Reuters could not immediately verify the report.

SpaceX did not immediately respond to a request for comment.

Reuters