Elon Musk Says SpaceX Won't IPO Until Mars is a Reality

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June 18, 2013 5:43 PM EDT
Tesla (NASDAQ: TSLA) CEO Elon Musk said he won't take SpaceX public until they are ready to take people to Mars. Comments were made in a Reuters Insider interview Tuesday evening.

The comments reiterated an tweet on June 6th from the entrepreneur. "No near term plans to IPO @SpaceX. Only possible in very long term when Mars Colonial Transporter is flying regularly," Musk said.

Explaining the rational for not going the IPO route at this time, Musk said developing technology to go to Mars will take "years." This doesn't bode well for the patience of the typical Wall Street investor, he said, who are very short-term in nature.

Musk said SpaceX has been cash flow positive for 5 years, but would be much more profitable if they weren't developing the Mars technology. Going to Mars is the ultimate goal he said.

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