SpaceX's Valuation Climbs to $25 Billion With New Funding Round

(Bloomberg) -- The of Elon Musk’s Space Exploration Technologies Corp. keeps reaching new heights.

The rocket maker authorized a $507 million fundraising round on April 5 at a valuation of about $25 billion, according to PitchBook Data. With that increase in SpaceX’s worth, Musk’s fortune would rise about $1.4 billion to $21.3 billion, according to Bloomberg Billionaires Index calculations.

SpaceX is poised to become the third-most valuable venture-backed startup in the U.S., after Uber Technologies Inc. and Airbnb Inc., PitchBook said. Musk plans to fly roughly 30 missions this year and has completed seven to date. On Monday, SpaceX is slated to launch a Falcon 9 rocket from Cape Canaveral Air Force Station in Florida with a National Aeronautics and Space Administration satellite as the payload.

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