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SpaceX valued at $350bn as company agrees to buy shares from employees

Dec 11, 2024 - theguardian.com
Elon Musk's SpaceX and its investors have agreed to purchase shares from employees, valuing the company at $350 billion. This transaction, reported by Bloomberg and the Financial Times, involves buying shares at $185 each, up from $112 a few months prior. The deal allows for up to $1.25 billion worth of employee shares to be bought, with SpaceX itself offering $500 million. This valuation nearly doubles the company's worth from a year ago when it was valued at $180 billion. Musk, who owns 42% of SpaceX, has seen his personal wealth increase significantly, now estimated at $384 billion.

Musk's other ventures include xAI, valued at $50 billion, and Neuralink, worth $8 billion. He also owns X, formerly Twitter, which he purchased for $44 billion but has since decreased in value. SpaceX and Tesla benefit from substantial US government contracts, with SpaceX securing over $700 million in contracts from the US Space Force in October alone. Over the past decade, SpaceX and Tesla have received at least $15.4 billion in government contracts. Musk's influence, particularly on social media, has been notable in political contexts, including the US presidential election.

Key takeaways:

  • SpaceX and its investors are buying shares from employees, valuing the company at $350 billion, with shares priced at $185 each.
  • Elon Musk's wealth has increased significantly, reaching $384 billion, partly due to his stakes in SpaceX and Tesla.
  • Musk's other ventures include xAI, valued at $50 billion, and Neuralink, valued at $8 billion.
  • SpaceX and Tesla have secured substantial US government contracts, totaling at least $15.4 billion over the past decade.
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