Musk said explicitly that if indeed the company cannot achieve a "Starship flight rate of once every two weeks”, then there is a real risk of bankruptcy in the near term.

Gwynne Shotwell, the president of SpaceX, added that the company was on the "cusp of flying that system", noting that the timelines are difficult albeit doable.

Since last year, the cost of shipping from China has increased by 80% due to pandemic-related lockdowns. At a time when consumers are much more likely to spend, supplies are not meeting demands.

Since Chinese manufacturers are resuming operations slower than expected, the company saw nearly $27 billion in value wiped out this past week.

Although thousands of farmers had signed up for the support program this winter, there is still no confirmation whether they will get the relief or not.

He said that his recent testimony in front of Congress has opened up new areas of investigation against Trump.