Musk bought $1.4 billion SpaceX shares last year, The Information reports

April 21 (Reuters) - Elon Musk increased his stake in SpaceX last year by purchasing $1.4 billion worth of stock from current and former employees, The Information reported on Tuesday.

The secondary stock purchase, ⁠made through Musk's trust, was disclosed in a draft of SpaceX's confidential IPO prospectus, the report said.

SpaceX also approved a plan last month that would award the billionaire CEO 60 million additional shares if the ⁠company's market capitalization climbs from $1.1 trillion to as high as $6.6 trillion and completes an ambitious plan of building ⁠data centers in space to supply compute for AI developers, The Information said.

Reuters ⁠could not immediately verify the report.

SpaceX did not immediately respond ⁠to a request for comment.

Reporting by Chandni Shah in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala

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