The 5% of SpaceX was what they're willing to put into the project, but that only covers a few million of the tens of billions this project needs.
I wouldn't look to the Public sector for funding this. Governments have grown increasingly hostile to long term projects. Just ask NASA how much fun it is to have senators constantly threaten to cut your funding and the need to build things in an incredibly inefficient (expensive) way just to keep Congress happy. Plus you get all sorts of curveballs as administrations come and go and want to juggle the priorities. As a government project this would just be an endless money pit and if it ever got off of the ground it would be decades late and severely cut back in scope.
I wouldn't look to the Public sector for funding this. Governments have grown increasingly hostile to long term projects. Just ask NASA how much fun it is to have senators constantly threaten to cut your funding and the need to build things in an incredibly inefficient (expensive) way just to keep Congress happy. Plus you get all sorts of curveballs as administrations come and go and want to juggle the priorities. As a government project this would just be an endless money pit and if it ever got off of the ground it would be decades late and severely cut back in scope.