Elon Musk's SpaceX Reportedly Leaves Trail Of Unpaid Bills Worth At Least $2.5M Amid Texas Expansion

Over two dozen companies have reportedly filed over 70 liens against sites developed by billionaire entrepreneur Elon Musk‘s SpaceX and its contractors since 2019 due to unpaid bills. 

What Happened: According to Reuters, several construction companies filed liens against SpaceX properties after they failed to receive payment for their services. 

Since 2019, more than two dozen companies have reportedly lodged 72 liens against sites developed by SpaceX and its contractors, seeking payments totaling over $2.5 million. 

It remains unclear whether these outstanding amounts are owed by SpaceX itself or any of its commissioned contractors. 

Among these businesses, some have expressed reluctance to engage in future SpaceX-related projects. Hydroz Energy Services LLC, an excavating business, is owed just $19,214 by SpaceX, a modest sum compared to the rocket manufacturer’s valuation of $180 billion as of a tender offer in December. 

Of the 72 liens, at least 41 were filed this year, and some have been resolved. Martin Marietta Materials Inc., a construction supply giant based in North Carolina, received $557,611 it claimed in March 2023, two months after filing its lien. 

However, many liens remain unresolved, including one filed by Texas-based materials supplier CMC Construction Services for an outstanding bill of $129,592. 

Why It Matters: Musk, currently the third richest person globally according to Forbes’ real-time billionaires list, faces increasing scrutiny due to these financial issues. 

After he acquired Twitter, now X, in 2022, Musk encountered a barrage of lawsuits from contractors alleging unpaid bills. Additionally, as the CEO of publicly-listed EV giant Tesla Inc., with a market cap of $548.19 billion as of the latest close, Musk’s financial responsibilities extend beyond SpaceX.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read More: SpaceX Starship Likely To Fly For 4th Time Next Month As Elon Musk Reaffirms New Goals

Photo by Angga Budhiyanto on Shutterstock

Market News and Data brought to you by Benzinga APIs
Posted In: NewsSPACETop StoriesTechMediaElon MuskSpaceXStories That Mattertexas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!