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SpaceX records $561 million investment gain from stake in Elon Musk's Boring Co.
The filing showed a large unrealized gain from SpaceX's Boring Co. stake, along with a Tesla Megapack purchase and merger talk.
✓Source-backed summarySource: CNBC
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Key developments
- SpaceX said its stake in The Boring Co. generated an unrealized gain of $561 million during the third quarter.
- The gain accounted for more than half of SpaceX's other income and boosted net income to just over $4 billion.
- SpaceX also said it bought $151 million worth of Tesla Megapack energy storage systems and that Musk discussed a potential SpaceX-Tesla merger.
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For informational purposes only. Not investment advice.
