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SpaceX valuation soared to $100 billion

Elon Musk’s space “startup”is now the second-largest private company in the world in terms of valuation: it is surpassed only by the Chinese ByteDance, the company behind TikTok.

SpaceX did not raise another funding round: the valuation increased based on the share price in the secondary market, according to CNBC. The company entered into an agreement for the sale of its shares by current investors in the amount of $750 million to new investors.

The price reached $560 per share, which is equivalent to a valuation of $100.3 billion. Last February SpaceX raised a funding round with a valuation of $74 billion and a $420 share price.

Global Technologies Private Portfolio clients purchased SpaceX shares in September 2019 for $ 229. The current return rate is around 144.5%.

SpaceX valuation soared to $100 billion