Elon Musk, the billionaire founder of SpaceX, on Friday (March 24) denied a media report from earlier this week that said investors from Saudi Arabia and the United Arab Emirates were planning to invest in a multi-billion dollar funding round in the company.

A unit of Saudi Arabia's investment fund and an Abu Dhabi-based company are planning to invest in a multi-billion dollar funding round for SpaceX, the Information had reported on Wednesday, citing people familiar with the discussions.

Musk tweeted "not true" responding to the report.

The funding round is expected to value the rocket maker at about $140 billion, the report added.

SpaceX raised US$2 billion in 2022 and US$2.6 billion in 2020, according to venture capital firm Space Capital.
 

  - Reuters