From CNBC: 2024-12-11 11:43:37

SpaceX launched its Starship spacecraft on its sixth test flight, reaching a valuation of $350 billion through a secondary share sale. The company bought $500 million in common stock, showcasing its financial strength. SpaceX dominates the satellite launch market with Falcon rockets and Starlink internet, positioning itself as a key player in the space industry. Musk’s influence extends to the presidential administration as the company continues to advance its Starship project. SpaceX’s valuation surpasses top U.S. defense contractors and ranks in the top 25 S&P 500 companies by market cap. Musk stated that few investors were willing to sell shares at the new valuation, leading SpaceX to reduce employee buybacks to accommodate new investors.



Read more at CNBC: SpaceX valuation surges to $350 billion as company buys back stock