July 10th, 2024

Feds who forced Ukrainian investor to sell rocket company backtrack years later

Ukrainian businessman Max Polyakov is free from US regulatory conditions after selling his stake in Firefly. Despite setbacks, Firefly thrives, and Polyakov, now a billionaire, may re-enter the space industry.

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Feds who forced Ukrainian investor to sell rocket company backtrack years later

After a long and contentious battle, Ukrainian businessman Max Polyakov has been released from all conditions imposed by US regulators, allowing him to move on from the forced sale of his majority stake in the rocket company Firefly. Polyakov had invested $200 million into Firefly before being pressured to sell due to concerns about his Ukrainian background. Despite the setback, Firefly has since seen success, with its Alpha rocket completing successful missions and expanding its business lines. Polyakov, who had aimed to support Ukraine during the conflict with Russia, is now valued at over $1 billion. While it is unlikely he will return to Firefly, Polyakov may re-enter the space industry in a different capacity. The resolution of this ordeal marks the end of a turbulent chapter for Polyakov and Firefly, highlighting the challenges faced by foreign investors in the US space sector.

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Link Icon 1 comments
By @squircle - 9 months
> "I hope you now are happy. History will judge all of you guys."

Ouch.