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The valuation of Tesla chief Elon Musk’s private space exploration firm, SpaceX, has topped a $100 billion valuation based on a private agreement between new and existing investors, CNBC said. informed of Friday represented a massive spike in the best price by only one other private company in the world.

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SpaceX insiders have reached an agreement to sell $755 million in private stock for $560 per share, CNBC reported Friday, citing unnamed sources familiar with the transaction.

The deal represents a 33% premium to prices from February’s funding round of $419.99 and means a firm valuation of approximately $100.3 billion.

The Hawthorne, Calif.-based company reportedly did not raise any additional capital with the sale.

SpaceX recently completed an $850 million fundraising round in February to help raise money for its ambitious Starlink and Starship projects, a $74 billion valuation at the time.

Musk – the world’s richest person with an estimated net worth of $201.5 billion – owned about 48% of SpaceX before its latest funding round, according to Businesshala’ Calculation.

SpaceX did not immediately respond Businesshala‘Request for comment.

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Founded in 2002, SpaceX builds and launches rockets into space, and in 2013 completed its first commercial mission for a private customer. In a note last year, Morgan Stanley analysts estimated the company’s valuation could rise to $100 billion, with “continued momentum in winning” government contracts, notably from the National Aeronautics and Space Administration and the US Department of Defense.15 On September, billionaire Jared Isaacman privately chartered A SpaceX rocket to go into outer space for the first time in an orbital mission with no professional astronauts.

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Musk has teased SpaceX’s plans to spin-off the Starlink project, a satellite broadband Internet service, and take it public. “We will probably IPO Starlink, but only several years into the future when revenue growth is smooth and predictable,” he tweeted Last year. “The public market *doesn’t* like uncertain cash flow. I’m a big fan of small retail investors. This will make sure they get top priority. You can catch me.”

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Only China-based TikTok owner Bydance, which was valued at $140 billion in its last funding round, exceeds SpaceX’s secondary sale valuation, according to CB Insights. However, in private transactions Allegedly The social media monolith is valued at over $400 billion.

Elon Musk’s SpaceX Valuation of $100 Billion (CNBC)

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