Every Chance I Get Going Forward, I'll Sell a Little Bit More, He Told The, Citing the Shares' Rapid Rise

Andre Lavoie, a 63-year-old engineer who joined SpaceX in 2009 and received 200,000 shares as part of his compensation, is selling his stake in the company, which is now worth about $23m (£17m). "Every chance I get going forward, I'll sell a little bit more, he told the BBC, citing the shares' rapid rise. SpaceX, founded by Elon Musk, listed on the Nasdaq in June in the largest IPO in history, valuing the firm at over $2 trillion and creating an estimated 4,400 new millionaires among employees.

The company's first earnings report showed quarterly revenue nearly doubled to $7.8bn, but spending ballooned to $18.3bn, leading to a net loss of $143m in the quarter and a $2bn loss in the first half of the year. Shares tumbled as investors worried about AI spending. Lavoie plans to use proceeds to fund a hotel renovation in Pontebba, Italy, and a small brewery, while also raising awareness of air pollution.

Analysts are divided on SpaceX's valuation, with some warning of risks tied to xAI and others, like Bank of America's Ron Epstein, noting the company has cut launch costs to about $2,000 per kilogram. Lavoie remains confident, saying, "The solid business model of SpaceX will prove itself to be worth the investment.