• Elon Musk said SpaceX's Starlink will not go public for another three to four years, CNBC reported.

• He told SpaceX employees that going public isn't always "a sure path to riches," per the report.

• It's the latest delay to Starlink's IPO, which Musk said in 2019 could go public this year.

Elon Musk has again pushed back the public offering for Starlink, SpaceX's satellite internet business, by three to four years, CNBC reported on Tuesday.

The SpaceX CEO told employees in an all-hands meeting last week that he wasn't sure when an initial public offering (IPO) would happen, but guessed it would not be until 2025 or 2026, according to an audio recording obtained by CNBC.

Musk said in the meeting that Starlink, which is owned by SpaceX, needs to be "in a smooth sailing situation" with "good predictability," per the recording.

When Starlink reaches this point, taking it public would "make a lot of sense," Musk told SpaceX workers, according to the recording obtained by CNBC.

During the meeting, Musk warned staff they "should not think of things going public as, like, a sure path to riches," CNBC reported from the audio recording.

The billionaire described stock markets as "fickle" and "really pistol-whip you if you don't meet expectations," per the recording.

"Being public is definitely an invitation to pain," Musk told SpaceX employees, according to the recording cited by CNBC.

SpaceX didn't immediately respond to Insider's request for comment.

His revised date means Starlink's IPO has been delayed once again for another three years. In an email to SpaceX workers in 2019, also obtained by CNBC, Musk gave a three-year timeline for Starlink's public offering, meaning an IPO could have taken place this year.

In 2020, Musk tweeted that Starlink would "probably IPO" in "several years." He then tweeted in June 2021 that it would be "at least a few years before Starlink revenue is reasonably predictable" and taking it public any earlier would be "very painful."