SpaceX's valuation skyrockets to $350 billion after share sale
SpaceX, the top rocket and satellite manufacturer owned by Elon Musk, has seen its valuation skyrocket to nearly $350 billion. The massive jump was sparked by a deal between SpaceX and its investors to purchase up to $1.25 billion of the company's common shares at $185 apiece, according to an internal email obtained by Bloomberg. The new share price is a major jump from $112/stock as of September 30.
SpaceX to buy $500 million worth of common stock
The internal communication also revealed that SpaceX plans to purchase up to $500 million worth of common stock from the total $1.25 billion. This move, which aligns with a previous Bloomberg report, highlights the post-US-election gains across Musk's business ventures. The transaction could potentially cement SpaceX's position as the world's most valuable start-up, with a market cap rivaling some of the largest public companies.
SpaceX's market dominance and future prospects
SpaceX has established itself as a premier rocket launch provider, catering to NASA, the Pentagon, and commercial partners. The company is also building a massive constellation of Starlink satellites to offer internet service. Following the US Presidential election, there has been a spike in interest from investors looking to capitalize on Musk's deepening relationship with President-elect Donald Trump.
Musk's wealth and investor opportunities in SpaceX
Musk's personal fortune has also soared, amounting to about $384 billion according to the Bloomberg Billionaires Index. The share sale gives employees and early shareholders a chance to sell their stocks, giving investors in privately held companies such as SpaceX an opportunity to create liquidity.
