3 sources·Business

SpaceX Surges Valuation Amid Musk's Historic Wealth Increase

SpaceX's valuation skyrockets to $350 billion alongside Elon Musk's net worth surpassing $400 billion, marking a pivotal moment in the space industry.

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Updated: Dec 11th, 2024, 3:06 PM ET

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SpaceX's valuation has reached $350 billion through secondary stock sales, showcasing its strong financial position amid Musk's increasing wealth, surpassing $400 billion. The company continues to dominate the satellite launch market and develop its Starship rocket. Musk's financial gains are intertwined with SpaceX's success, as he holds a 42% stake. The rise in valuation reflects growing investor confidence and the company's significant contracts, bolstered by its advancements in satellite internet and reusable rocket technologies.

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