Elon Musk's SpaceX enters $100 billion valuation club after recent share sales

Elon Musk’s SpaceX has officially crossed $100 billion in valuation following the share sale held last week. According to a CNBC report, the share prices of SpaceX also saw a rise of 33% since February that skyrocketed the company’s valuation. With this, Musk has also regained the world’s richest man title surpassing Amazon founder Jeff Bezos. 

SpaceX's share sale evaluates up to $755 million 

Although SpaceX refused to comment on the trade, it was revealed by CNBC that investors of SpaceX sold shares worth a whopping $755 million in privately held stock, with each at a price of $560. Besides, the company also recorded a massive 33% jump in its share prices that earlier were fixed at $410.99. According to the reports, SpaceX stood at a valuation of $74 billion following a fundraising round in February. The company now officially stands at $100.3 billion.

CNBC further revealed that SpaceX is now in the 'centicorn' club, meaning a unicorn company having a valuation of $1 billion, hundred times over. Moreover, it also is now the world’s second most valuable private company after surpassing fintech firm Stripe and is only behind China’s Bytedance ($425 billion). The recent surge in SpaceX’s evaluation is being accredited to its investment in two of its project, satellite-internet company Starlink and the future Martian vehicle Starship. 

Meanwhile, the tech mogul has regained the top spot in terms of being the richest man as the aforementioned share trade added $10.6 billion and taking his total net worth to $223 billion. A Bloomberg report suggested that the top 500 richest people in the world have added a massive $742 billion in 2021 despite the effects of the COVID pandemic. 

Apart from this, Musk is currently in news for his announcement of shifting Tesla headquarters from Palo Alto, California, to Austin, Texas.

"We’re taking it as far as possible, but there’s a limit how big you can scale it in the Bay Area,” he said. “Just to be clear, though, we will be continuing to expand our activities in California. This is not a matter of leaving California”, said musk according to the Associated Press.

Image: AP