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Elon Musk's SpaceX Hits $100 Billion Valuation

Published by Slashdot on Sat, 09 Oct 2021


The valuation of Elon Musk's SpaceX crossed $100 billion following a share sale by existing investors announced this week. CNBC reports: 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. The new share price is an increase of 33% 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.Read more of this story at Slashdot.
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