Elon Musk’s SpaceX Gets 60% Higher Valuation In Latest Funding Round At $74B: Report

Share

SpaceX, a company led by Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, raised $850 million in a funding round last week, CNBC reported Tuesday. What Happened: The space exploration firm raised the funds at $419.99 per share. After the latest fundraising, SpaceX is valued at $74 billion, according to CNBC. The latest raise values SpaceX 60% higher compared with the previous round in August when it raised nearly billion at a valuation of $46 billion. Why It Matters: Notably, the funds were raised just one cent shy of $420, an infamous figure that caused plenty of trouble for Musk in 2018. In December, it was reported that SpaceX was seeking a valuation of billion in a new funding round. The company plans to send four space tourists to orbit Earth on “the world’s first all-civilian mission” during the fourth quarter this year. Related Link: Elon Musk Unintentionally Sends ‘Marscoin’ Cryptocurrency Soaring 1,800% With A Tweet See more from BenzingaClick here for options trades from BenzingaWarren Buffett’s Berkshire Cuts Apple Stake And Buys These Drugmaker, Telecom Stocks InsteadTikTok In Negotiations To Go Public On NYSE: Chinese Media© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Leave A Reply