Elon Musk Company 'SpaceX' Valuated At Over $100Bln After Secondary Share Sale - Reports

Elon Musks's aerospace company SpaceX hit a valuation of over $100 billion after a new secondary sale of shares in the company by investors, CNBC reported on Friday

WASHINGTON (UrduPoint News / Sputnik - 08th October, 2021) Elon Musks's aerospace company SpaceX hit a valuation of over $100 billion after a new secondary sale of shares in the company by investors, CNBC reported on Friday.

The company reportedly reached a deal with investors to sell up to $755 million worth of stock at $560 per share, multiple people familiar with the agreement said. This increases the company's valuation to $100.3 billion.

The valuation makes SpaceX the second most valuable private company in the world, according to CB Insight. The company's valuation has increased substantially over the last several years due to growing investor interest in their Starship and Starlink projects, which aim to produce a spaceship capable of bringing humans to Mars and a global, high-speed satellite internet network respectively.

Musk announced on Thursday that SpaceX will be moving its headquarters from California to Austin, Texas. This places the company closer to their Starship testing location in Boca Chica, Texas.

The Forbes list of the 400 wealthiest Americans published on Tuesday placed Musk in the number two spot behind Amazon founder Jeff Bezos, with a net worth of $190.5 billion.