Musk purchased $1.4 billion in SpaceX stock last year

Elon Musk increased his stake in SpaceX by purchasing $1.4 billion worth of stock from employees. The transactions occurred throughout the previous year.

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Elon Musk has reportedly increased his ownership stake in SpaceX through the purchase of $1.4 billion in shares from current and former employees. According to a report by The Information on Tuesday, the transaction occurred over the course of last year, allowing the billionaire to further consolidate his position in the aerospace firm.

SpaceX founder Elon Musk addresses the media after the inaugural Falcon Heavy rocket launch at the Kennedy Space Center in Florida. REUTERS/Joe Skipper/File Photo
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