SpaceX valuation crosses $ 100bn making Musk richer
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2 years ago 11:31:21am Television

SpaceX valuation crosses $ 100bn making Musk richer

New Delhi, 11-November-2022, By IBW Team

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The valuation of Elon Musk’s SpaceX crossed $100 billion following a share sale by existing investors announced late last week.

SpaceX has an agreement with new and existing investors to sell up to $755 million in stock from insiders at $560 a share, according to multiple people familiar with the deal, increasing the company’s valuation to $100.3 billion.

The company did not raise new capital at this time, sources said, with the purchase offer representing a secondary sale of existing shares, CNBC reported last week.

The new share price is an increase of 33 percent from SpaceX’s last valuation of $74 billion at $419.99 a share in February, when the company raised nearly $1.2 billion. The company had a similar secondary transaction in February, with a deal for insiders to sell up to $750 million at the time.

SpaceX’s new valuation makes it one of the rare private ‘centicorn’ or ‘hectocorn’ companies in the world — a $1 billion unicorn 100 times over. Musk’s SpaceX is now the second-most valuable private company in the world, according to CB Insights, behind only China’s Bytedance and jumping past fintech firm Stripe.

request for comment.

The company’s valuation has soared in the last few years as SpaceX has raised billions to fund work on two capital-intensive projects: Starship and Starlink.

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