SpaceX, Elon Musk’s private aerospace company, and its investors have agreed to purchase shares from its employees, valuing the company at $350 billion. This marks a significant increase from the $180 billion valuation a year ago. The company is buying the shares at $185 each, up from $112 previously, with a total of up to $1.25 billion in shares being purchased, including $500 million from SpaceX itself.
Musk, who holds a 42% stake in the company, has seen his wealth grow to $384 billion, making him the world’s richest person. SpaceX’s investors include Baillie Gifford and Sequoia Capital. The company’s value also reflects growth across Musk’s other ventures, including Tesla, Neuralink, and xAI. Despite challenges, such as a drop in X’s valuation, Musk’s companies continue to benefit from substantial U.S. government contracts, particularly in space and technology sectors.
In recent months, SpaceX secured over $700 million in contracts with the U.S. Space Force and has accumulated more than $15 billion in government contracts over the past decade.
