SpaceX’s Starship rocket production facility in Boca Chica, TX, as a visit by CEO Elon Musk (third from right) and President Gwynne Shotwell (third from left).
Steve Jurvetson on flickr
Elon Musk’s valuation of SpaceX has surpassed $ 100 billion following a stock sale by existing investors announced this week, CNBC has learned.
SpaceX has a deal with new and existing investors to sell up to $ 755 million in insider shares at $ 560 a share, according to several people familiar with the deal, bringing the company’s valuation to $ 100.3 billion. The company has yet to raise new capital, the sources said, and the takeover bid represents a secondary sale of existing shares.
The price of the new stock is a 33% increase from SpaceX’s last valuation of $ 74 billion to $ 419.99 a share in February, when the company raised nearly $ 1.2 billion. The company had a similar side 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 few private “centicorn” or “hectocorn” companies in the world: a unicorn 100 times more than a billion dollars. Musk’s SpaceX is now the second most valuable private company in the world, according to CB Insights, behind China’s Bytedance and surpassing fintech company Stripe.
SpaceX CEO Elon Musk poses with the crew prior to launch on September 15, 2021.
John Kraus / Inspiration4
People spoke to CNBC on condition of anonymity because SpaceX is not a publicly traded company and the funding is private.
SpaceX did not respond to CNBC’s request for comment.
The company’s valuation has skyrocketed in recent years, as SpaceX raised billions to fund work on two capital-intensive projects: Starship and Starlink.
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