Elon Musk’s SpaceX reportedly secured $ 100 billion valuation in private investor deals

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Top line

The valuation of the private space exploration company of Tesla chief Elon Musk, SpaceX, exceeded a valuation of $ 100 billion based on a private agreement between new and existing investors, CNBC reported Friday, which is a massive increase in value, surpassed overall by only one other private company in the world.

Highlights

SpaceX insiders have landed a deal to sell up to $ 755 million in private stock for $ 560 per share, CNBC reported on Friday, citing anonymous sources familiar with the deal.

The deal represents a 33% premium over prices of $ 419.99 in a February funding round and involves a firm valuation of around $ 100.3 billion.

The Hawthorne, Calif., Company reportedly reportedly raised no additional capital during the sale.

SpaceX recently completed an $ 850 million fundraiser in February to help bolster funds for its ambitious Starlink and Starship projects, reaching a valuation of $ 74 billion at the time.

Musk, the richest person in the world with an estimated net worth of $ 201.5 billion, owned around 48% of SpaceX before his last funding round, according to Forbes’ calculations.

SpaceX did not immediately respond to Forbes‘request for comment.

Key context

Founded in 2002, SpaceX builds and launches rockets into space, and completed its first trade mission for a private client in 2013. In a note last year, Morgan Stanley analysts predicted that the valuation of the company could reach $ 100 billion given its “continued drive to win government contracts,” particularly from the National Aeronautics and Space Administration and the US Department of Defense. Billionaire Jared Isaacman in private on September 15 chartered a SpaceX rocket to go into space on the very first orbital mission without a professional astronaut on board.

What to watch out for

Musk has announced plans to launch SpaceX’s Starlink Project, a high-speed satellite internet service, and make it public. “We will likely IPO Starlink, but only in a few years when revenue growth is steady and predictable,” he said. tweeted Last year. “The public market * doesn’t * like erratic cash flow haha. I’m a big fan of small retail investors. I’ll make them top priority. You can stick with me.”

Surprising fact

According to CB Insights, only China-based TikTok owner Bytedance, with a valuation of $ 140 billion in its last funding round, is worth more than the valuation of SpaceX’s secondary sale. However, private transactions have would have valued the social media monolith at over $ 400 billion.

Further reading

Elon Musk’s SpaceX valuation at $ 100 billion (CNBC)

Elon Musk’s SpaceX Now Worth $ 74 Billion After Latest Fundraiser: Report (Forbes)

Jeff Bezos and Elon Musk now go head-to-head in the small satellite internet market (Forbes)



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