Elon Musk’s SpaceX passes $100 billion valuation

SpaceX simply retains taking pictures for the celebrities—and this yr, its success has been stratospheric. The valuation of  Elon Musk’s aerospace firm has simply surpassed $100 billion, according to a report from CNBC.

The corporate didn’t increase new capital, however quite crossed the brink after a secondary sale of present inventory, the report says. That got here by way of an settlement with new and present buyers, which allowed SpaceX to promote $755 million in inventory from insiders at $560 a share, sources aware of the deal instructed CNBC. The brand new share worth is a 33% bump from its final valuation earlier this yr, which had the corporate value $74 billion with a share worth of $419.

As such, SpaceX’s on-paper wealth has multiplied to 100 occasions over the $1 billion unicorn mark, making it a “centicorn,” if you’ll.  SpaceX is now the world’s second most-valuable privately held firm, behind solely China’s supermassive web juggernaut Bytedance, in accordance with information from enterprise analytics agency CB Insights.

Lately, SpaceX has raised billions to construct a constellation of hundreds of Starlink satellites, which provide broadband web entry to huge swaths of the planet, in addition to the Starship rocket launch system. It’s presently jockeying with rival firm Blue Origin over a NASA contract to create lunar landers for astronauts, and over turf within the rising subject of house tourism. However its meteoric rise additionally proves that maybe—in contrast to a few of its house race opponents this yr ( you, Bezos and Branson)—it doesn’t have to ship a billionaire superstar into orbit with the intention to make headlines.

However in fact, we wouldn’t rule out a visit to the cosmos for the famously eccentric Elon Musk. In any case, when you’ve turn into Earth’s richest man, based a mess of modern ventures mapping every thing from underground tunnel networks to the human mind, and wielded the facility to sway inventory markets by the billions with a single tweet, what’s left to beat however the ultimate frontier?