Elon Musk’s SpaceX Raises $750 Million in Funding, Valuation Rises to $137 Billion

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Last Updated on 01/04/2023 by てんしょく飯

 

SpaceX, the commercial rocket company led by Elon Musk, raised $750 million (¥98 billion) in its latest round of funding, raising its valuation to $137 billion (¥18 trillion), CNBC reported on January 2.

 

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Venture Capital-Driven Fundraising

The latest round of fundraising is believed to be led by Andreessen Horowitz, a venture capital firm that also invested in Musk’s $44 billion acquisition of Twitter. The $137 billion valuation is a $10 billion increase from the $127 billion SpaceX raised in May 2022, when it raised about $1.7 billion.

 

The funding comes after a busy 2022 in which SpaceX conducted 61 launches of its reusable Falcon rocket and reached 1 million subscribers for its Starlink satellite Internet service.

 

Reuters reported last November that SpaceX was in talks to raise funds at a valuation of $150 billion. A month later, Bloomberg reported that the company had settled on a slightly lower valuation of $140 billion.

 

Forbes estimates that Musk’s current holdings are $146.5 billion, down nearly 55% from a peak of $320 billion in November 2021. This is due in part to the slump in Tesla’s stock price over the past year. Musk lost his position as the world’s richest man to LVMH’s Bernard Arnault in December.

 

Musk has generated some controversy over the past year, much of it stemming from his acquisition of Twitter, which took place at the end of October. He claimed to be making Twitter a place of free speech, reinstating controversial accounts and arbitrarily changing policies and rules.

 

Tesla investors have cited Musk’s distraction from running Twitter as the reason behind the company’s declining stock price. Musk’s involvement with Twitter has also raised concerns about SpaceX’s management, with NASA Administrator Bill Nelson asking SpaceX COO Gwynne Shotwell about Musk’s lack of focus, to which he replied, “Nothing to worry about.” Musk said last month that he would resign as CEO of Twitter as soon as he found a replacement.

 

 

 

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