- SpaceX Now Worth Over $100 Billion, Competitors Like Lockheed Martin
- Valuation took place after sale of secondary shares from existing investors
- Investors sold $755 million worth of SpaceX shares at $560 per share
- $100 billion valuation is a 33% increase from February
- It is the second most valuable private company after China’s ByteDance, which owns TikTok.
Elon Musk’s SpaceX is now worth more than $100 billion, surpassing the likes of competitors like Lockheed Martin, after a stock transaction saw the company enter cosmic orbit.
Exceptional valuations followed a secondary share sale by existing investors earlier this week CNBCThe one who first reported the news.
SpaceX investors – both new and existing – sold $755 million worth of stock in the Musk-led space exploration company at $560 per share, giving it a valuation of $100.3 billion, surpassing the value of other space contractors including Lockheed Martin. Gaya, which has a market cap of $97 billion.
Lockheed is the primary contractor on the Orion spacecraft and the only company to have built a spacecraft that has landed on Mars, something SpaceX hopes to eventually achieve.
For comparison purposes, publicly traded Boeing, which competes with SpaceX for space contracts, has a market cap of just over $130 billion.
Elon Musk’s SpaceX is now worth more than $100 billion, with competitors like Lockheed Martin. Valuation done after sale of secondary shares from existing investors
Investors sold $755 million worth of SpaceX shares at $560 per share. The $100 billion valuation for the Musk-led company is a 33% increase from February
Virgin Galactic, which also competes with SpaceX, is significantly smaller than the aforementioned companies, with the company founded by Sir Richard Branson having a market cap of just over $6 billion.
Blue Origin is largely self-funded by Jeff Bezos, who sold $1 billion worth of Amazon stock annually to form the company.
SpaceX’s growing valuation adds another layer to the space race between the three companies and their founders.
Ultimately, Branson flew to the edge of space on July 11 – nine days before Bezos.
Musk himself has not flown into space, but his company sent four civilians into space on September 15, flying 360 miles above Earth.
The new valuation for SpaceX is a 33 percent increase from its $74 billion valuation in February, when it raised nearly $1 billion in new funding at $419.99 per share, according to CNBC. informed of those days.
The company also conducted a secondary transaction in February that saw insiders sell for $750 million.
According to a Morgan Stanley analysis, SpaceX — and its competitors — aims to gain their share of the space market — which includes moon landings, asteroid mining and space tourism — that could be worth $1 trillion by 2040.
At a valuation of $100 billion, the world’s only private company with a high valuation is China’s ByteDance, which owns TikTok, according to CB Insights.
DailyMail.com has reached out to SpaceX with a request for comment for this story.
This is higher than fintech firm Stripe and other ‘unicorns’ (a term for private companies worth more than $1 billion) such as Instacart, Epic Games and Rivian, which recently filed to go public.
SpaceX has seen a meteoric rise in valuations since the company’s founding in 2002.
According to Charlie Billello, CEO of Compound Capital Advisors, SpaceX’s valuation has increased significantly since 2019, when the company was valued at $13 billion.
Much of the company’s valuation stems from its Starlink Internet business, its ambitious Starship rocket, as well as the contracts it receives from the government for space exploration.
In June, Musk said that Starlink could have more than 500,000 users — up from about 100,000 currently — in 12 months and a total investment of $30 billion over the project’s lifetime.
As of August, SpaceX had launched more than 1,700 Starlink satellites into space.
As of August, SpaceX had launched more than 1,700 Starlink satellites into space, but the company has far broader plans than its current 90,000 users.
Musk has previously said that it may make sense for the company’s Starlink unit to go public when it has projected cash flows.
The company’s Starship rocket, which the company hopes will bring cargo and people to the Moon and Mars, is ambitious and capital-intensive.
In May, the company revealed plans for Starship’s first orbital flight, which will see a 160-foot-tall rocket launch from Texas before landing 90 minutes later off the coast of Hawaii.
In August, the company stacked the Starship on top of the Super Heavy booster in preparation for launch, with the combined craft measuring 400 feet.
Elon Musk’s SpaceX is one more step closer to sending humans to Mars — the firm stacked its Starship on a super heavy booster in August, with the combined craft being 400 feet tall.
According to wall street journalSpaceX has received $2.8 billion in 52 contracts from NASA and the Pentagon over the past 14 federal fiscal years.
However, SpaceX’s $2.9 billion contract with NASA to build a Moon lander has become controversial in recent months.
In August, NASA temporarily halted work on the contract after Blue Origin was sued, claiming the agency had broken its policies.
In September, SpaceX sent the first all-civilian crew into orbit as part of the Inspiration 4 mission, a three-day tour into space aboard the SpaceX Crew Dragon capsule.
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