Some SpaceX investors are reportedly concerned Elon Musk is using their money for his Boring Company venture

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Some SpaceX investors are reportedly concerned Elon Musk is using their money for his Boring Company venture

boring company

The Boring Company

Some SpaceX investors are reportedly concerned about CEO Elon Musk's other ventures.

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Some SpaceX investors are concerned about CEO Elon Musk's other ventures, especially when their capital is deployed for his latest pet project, The Boring Company, the Wall Street Journal reported Monday.

The Boring Company's first tunnel, which is set to open Tuesday after a delay, is being constructed from SpaceX headquarters in Southern California and has been funded by money intended for the rocket venture - not tunnels - sources told the Journal.

Eventually, about 6% of The Boring Company's equity was given to SpaceX after some investors voiced their discontent, according to the Journal, but the SpaceX board never voted to deploy the cash in the first place.

In a statement to the Journal, the Founders Fund, SpaceX's largest outside backer, said it has "no concerns whatsoever."

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A Boring Company spokesperson did not respond to a request for comment.

You can read the full Wall Street Journal story here.

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