Elon Musk’s SpaceX is ready to become the most valuable startup in the United States

ryanniesMay 17, 2022

Billionaire’s Elon Musk SpaceX is ready to become the most valuable startup in the United States, with an ongoing stock sale in the secondary market surpassing $ 125 billion. The source told Reuters.

Shares sold for about $ 72 have surged since October last year, when SpaceX shares were sold for $ 56 per share after a 10: 1 split and rocket companies were valued at $ 100 billion. ..

No new shares have been issued in the secondary offer, but the company has shown investors that it may issue later this year, one source said, asking them not to be identified.

The share sale could add SpaceX to more than $ 125 billion, surpassing the fintech giant Stripe, which was worth $ 115 billion in the secondary sale.

I didn’t know how many shares the company had put up for sale. It is common for high-value private companies to offer stock in the secondary market and introduce liquidity to early investors and employees.

Reuters couldn’t determine if CEO Elon Musk, who owns 44% of SpaceX and signed a $ 44 billion deal to buy Twitter Inc, would be included in the seller. Musk is also Tesla’s Chief Executive Officer.

SpaceX did not immediately respond to Reuters’ request for comment. The New York Post first reported on Monday’s private placement.

In a capital-intensive business, SpaceX raised $ 337.4 million in December and $ 1.16 billion in equity finance in April last year, according to regulatory filings.

The company competes with former Amazon.com CEO Jeff Bezos space venture Blue Origin and billionaire Richard Branson’s Virgin Galactic in the constellation of a fast-growing commercial rocket venture.

SpaceX has already launched a number of cargo payloads and astronauts to the NASA International Space Station, including the launch of 19 rockets this year alone.

(Report by Krystal Hu, edited by Lisa Shumaker)