Elon Musk tweets ‘not true’, denies report on SpaceX’s plans for new funding from Saudi, UAE

By simply tweeting “not true,” Musk denied the report.

A media report from earlier this week that claimed investors from Saudi Arabia and the United Arab Emirates were planning a multibillion dollar funding in the company was denied by Elon Musk, the billionaire founder of SpaceX, on Friday.


The Information had reported on Wednesday, citing people familiar with the discussions, that a unit of Saudi Arabia’s investment fund and an Abu Dhabi-based company are planning to invest in a multi-billion dollar funding round for SpaceX.


Musk responded to the report by tweeting “not true.”

According to the report, the funding round will value the rocket maker at about $140 billion.

According to venture capital firm Space Capital, SpaceX raised $2 billion in 2022 and $2.6 billion in 2020.