Musk’s SpaceX Hits $100 Billion Valuation in Secondary Sale
Musk’s SpaceX Hits $100 Billion Valuation in Secondary Sale
(Bloomberg) -- Elon Musk’s SpaceX reached a valuation of $100 billion after a sale of its shares on the secondary market, a person with knowledge of the matter said.
The shares were offered at $560 each, the person said, 33% above the $420-a-share price in a February funding round that valued the company at $74 billion.
Space Exploration Technologies Corp., as the company is formally known, didn’t immediately respond to requests for comment.
The secondary sale comes ahead of the Hawthorne, California-based company’s third rotation of astronauts for NASA on Oct. 30. It gives SpaceX a higher market value than the roughly $97 billion of Lockheed Martin Corp., the world’s largest pure-play defense contractor.
SpaceX already sits among the world’s most highly-valued private companies, a list that includes China’s ByteDance and Stripe. A secondary transaction in June valued Stripe at $152 billion, according to data from PitchBook.
SpaceX’s investors include Sequoia Capital, T. Rowe Price Group Inc., Ontario Teachers’ Pension Plan, Alphabet Inc. and Baillie Gifford, according to PitchBook.
The latest sale was reported earlier by CNBC.
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