SpaceX Crushes £274 Billion Valuation Following An Insider Deal

The public valuation of Elon Musk’s space firm, SpaceX, is now through the roof following the purchase of up to £941 million worth of the firm’s common shares. This purchase led to a 65% rise in SpaceX’s share, further leading to a boost in the firm’s overall valuation to £274 billion.

SpaceX Is Now The World’s Most Valuable Private Startup

Following its most recent valuation of £274 billion, SpaceX steps up to become the world’s most valuable private startup. This new surge places Elon Musk’s space firm ahead of the Chinese tech giant ByteDance, which has a valuation of over £235 billion.

The main reason behind this surge is the massive purchase of SpaceX shares by investors. SpaceX itself also purchased over £392 million worth of its own common stocks, as stated in an internal document.

This in addition to the purchase of over £941 million worth of the firm’s common shares helped to fuel SpaceX’s growth to become the world’s most valuable startup. With this new achievement, SpaceX strengthens its hold on the top spot as the world’s most valuable aerospace company.

In reply to a post on X, Elon Musk pointed out a fact considering the deal that helped increase the valuation of his space firm. Elon Musk points out that “almost no investors wanted to sell shares, even at a $350B valuation!”

He also adds that “SpaceX reduced the amount of shares it bought back from employees in order to allow some new investors in.” This might indicate that the firm still sees more room for growth in its valuation over the course of the coming months.

Details On SpaceX You Need to Know

Originally founded on 14 March 2002 by Elon Musk, SpaceX has grown to become a major force in the aerospace industry. The firm’s first privately funded liquid-rocket launch was the Falcon 1, and it reached orbit on 28 September 2008.

Ever since its launch, SpaceX has launched multiple rockets carrying payloads to space. Back in February 2018, SpaceX launched two test satellites into space and a year after that more satellites were launched into space.
Currently, SpaceX has been able to launch over 6,764 Starlink satellites in orbit. Aside from Starlink, SpaceX has a ton of other major achievements under its belt, making it a major part of the space aviation industry.