Musk: Thousands of SpaceX Employees Now Likely Millionaires

Elon Musk said "several thousand" SpaceX employees are likely millionaires now, thanks to the company's rising private-market valuation. Musk made the comment during a radio interview Wednesday. He also repeated his goal of building cities on the moon and Mars.

The SpaceX CEO did not specify how many employees hold equity or the exact valuation threshold that would make them millionaires. SpaceX has raised money at valuations above $200 billion in recent funding rounds. Employee stock options have appreciated as the company's launch business and Starlink satellite internet operation have grown.

Private-company employees often cannot cash out until a liquidity event such as an IPO or a secondary sale. SpaceX has not set a date for going public, and Musk has said he wants to focus on Mars before considering an IPO. "I think the most motivating thing is that the employees are true believers," Musk said in the interview, according to a transcript.

Musk's remarks come as SpaceX prepares for the next Starship test flight. The company's valuation has made it one of the most valuable private companies in the world.