Billionaire Elon Musk believes SpaceX won contracts from NASA not because the rocket maker is subsidised by the government space agency, but because they “offered BOTH best product AND lowest cost”.

Elon Musk has denied news reports that his rocket and satellite maker SpaceX is seeking a US$800bil valuation through a share sale.

Elon Musk, the richest person in the world, has already shown that when a city’s rules won’t bend to his will, he’ll create a new city and new rules. That’s how Starbase, the self-governing town built around SpaceX’s southern Texas launch site, came to be.

With a current net worth of $470.9 billion, Musk's wealth can be hard for the average person to imagine, especially when considering how much he earns daily.

The Elon Musk SpaceX series has been scrapped at HBO, according to biographer Ashlee Vance, who wrote “Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future,” which was meant to serve as the basis for the limited series.

In April, during Jared Isaacman's first nomination hearing for the post of NASA administrator, the Democratic senator from Massachusetts asked repeatedly if SpaceX founder and CEO Elon Musk was in the room when President Donald Trump offered him the job of NASA chief. Isaacman declined to answer directly.

The $800 billion figure would launch SpaceX past OpenAI, which is valued at about $500 billion. The number also makes Elon Musk about $160 billion. He owns an estimated 40% of SpaceX stock. The most valuable aerospace and defense company in the U.S. is GE Aerospace, valued at about $300 billion.