SpaceX is worth about 350 billion USD - Musk's company has seen a significant increase after the US elections
SpaceX and its investors have agreed to buy up to $1.25 billion in domestic stock in a transaction that values Elon Musk's rocket and satellite maker at about $350 billion.
The price per share of $185 is a significant increase from the $112 set at a preliminary estimate less than three months ago, the memo said. SpaceX itself is offering to buy up to $500 million worth of common stock.
The company, formally known as Space Exploration Technologies Corp., did not immediately respond to a request for comment.
The staggering valuation, which confirmed a Bloomberg report from last week, solidifies SpaceX's status as the world's most valuable private startup, with a market capitalization that rivals some of the largest public companies. It reflects post-election gains across the billionaire chief executive's business empire.
SpaceX has established itself as one of the industry's leading providers of rocket launches, sending satellites, cargo and people into space for NASA, the Pentagon and commercial partners, and is building a large network of Starlink satellites that provide Internet service. .
Musk's businesses have seen a surge since the US election, with investors looking to capitalize on the billionaire's deepening ties to President-elect Donald Trump. Musk's own fortune has grown to about $384 billion, according to the Bloomberg Billionaires Index.
A so-called tender or secondary offering, through which employees and some early shareholders can sell shares, offers investors in companies like SpaceX a way to generate income.
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