Elon Musk’s SpaceX Faces Bankruptcy Risk

CEO Elon Musk emailed employees the day after Thanksgiving to urge them to work over the weekend.

The big concern is a methane-powered engine called the Raptor, which will propel the company’s next-generation Starship spacecraft.

Earlier this year, SpaceX nabbed a $2.9 billion contract from NASA to develop Starship and a lunar lander to get astronauts back on the moon by 2025.

Two VPs quietly left SpaceX last month, and Musk said executives have since found existing manufacturing delays more severe than they first thought.

SpaceX will need to launch at least one Starship every two weeks in 2022 to stay solvent, and that requires all hands on deck, he wrote.

Musk claimed in 2018 that his other company, Tesla, came within single-digit weeks of collapse. It is now got a market cap of $1 trillion.

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It’s not the first time Elon Musk’s worried about the demise of SpaceX — he once thought it would be worth ‘$0’

Billionaire Elon Musk warned his employees in a company email that SpaceX faces a “genuine risk of bankruptcy.” It’s not the rocket company’s first time and it might now be the last.

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The leadership of SpaceX’s rocket business has been shaken up, CNBC has realized, as two vice presidents have parted with the corporate.

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