Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Zenger
Zenger
Technology
Anan Ashraf

SpaceX Valuation Soars To $150B After Share Sale, Continues To Outpace Expectations

Spacex founder Elon Musk (R) after the successful launch of the SpaceX Falcon 9 rocket with the manned Crew Dragon spacecraft at the Kennedy Space Center on May 30, 2020 in Cape Canaveral, Florida.Elon Musk‘s SpaceX has reportedly achieved a staggering valuation of nearly $150 billion. JOE RAEDLE/GETTY IMAGES  

Elon Musk‘s SpaceX has reportedly achieved a staggering valuation of nearly $150 billion. 

According to CNBC, the rocket manufacturer’s valuation soared after a share sale by existing investors. 

The company has agreed to sell up to $750 million in stock from insiders at $81 a share, representing a secondary sale of existing shares, CNBC reported, citing a copy of the purchase offer sent by CFO Bret Johnsen on Thursday.

Back in January, SpaceX was said to be raising $750 million in a funding round that valued the company at $137 billion. PAUL HENNESSY/GETTY IMAGES 

This development follows last month’s reports by Bloomberg, which indicated that SpaceX was planning to offer shares at over $80 per share, citing sources familiar with the matter.

Back in January, SpaceX was said to be raising $750 million in a funding round that valued the company at $137 billion. This indicates a remarkable 9.5% increase in the company’s total valuation since then.

During a discussion with author Ashlee Vance, Musk reaffirmed his goal of delivering 80% of Earth’s payload to orbit by the end of this year. He also shared updates on Starship, highlighting significant improvements since its first flight and expressing a 60% probability for the next flight to successfully reach orbit, contingent on the success of stage separation. Musk anticipates the second flight test to take place within six weeks.

While rumors of a potential SpaceX or Starlink IPO have been circulating for years, Musk stated in June last year that Starlink is unlikely to go public until 2025 or later.

Produced in association with Benzinga

Edited by Saba Fatima and Maham Javaid

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.