October 25, 2021

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Business & Finance Information

Elon Musk’s SpaceX valuation $100 billion

SpaceX’s Starship rocket manufacturing facility in Boca Chica, Texas, as CEO Elon Musk (third from the suitable) and President Gwynne Shotwell (third from the left) tour.

Steve Jurvetson on flickr

The valuation of Elon Musk’s SpaceX crossed $100 billion following a share sale by current buyers introduced this week, CNBC has realized.

SpaceX has an settlement with new and current buyers to promote as much as $755 million in inventory from insiders at $560 a share, in accordance with a number of individuals conversant in the deal – growing the corporate’s valuation to $100.3 billion. The corporate didn’t increase new capital at the moment, sources stated, with the acquisition supply representing a secondary sale of current shares.

The brand new share worth represents a rise of 33% from SpaceX’s final valuation of $74 billion at $419.99 a share in February, when the corporate raised almost $1.2 billion. The corporate had the same secondary transaction in February, with a deal for insiders to promote as much as $750 million on the time.

SpaceX’s new valuation makes it one of many uncommon non-public “centicorn” or “hectocorn” corporations on this planet – a $1 billion unicorn, 100 instances over. Musk’s SpaceX is now the second most beneficial non-public firm on this planet, in accordance with CB Insights, behind solely China’s Bytedance and leaping previous fintech agency Stripe.

SpaceX CEO Elon Musk poses with the crew earlier than launch on September 15, 2021.

John Kraus / Inspiration4

The individuals spoke to CNBC on situation of anonymity, as a result of SpaceX will not be a publicly traded firm and the financing is non-public.

SpaceX didn’t reply to CNBC’s request for remark.

The corporate’s valuation has soared in the previous couple of years as SpaceX has raised billions to fund work on two capital intensive initiatives: Starship and Starlink.

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