Tesla isn't the only company Elon Musk propelled over a $100 billion valuation
Elon Musk’s space exploration and satellite company SpaceX recently reached a rare milestone for a privately held company — a $100 billion valuation. This estimated valuation surfaced as CNBC reported a new round of sales of secondary shares to new and existing investors.
Above: SpaceX CEO Elon Musk (Flickr: NASA Kennedy)
According to reports, SpaceX has entered a new agreement with existing and new investors for selling $755 million worth of shares at $560 per share. This would make SpaceX only the second unicorn startup company ever to reach a valuation of $100 billion. ByteDance (which owns TikTok) has the current record with a $140 billion valuation (full list on Wikipedia).
With the recent surge in valuation, here’s how SpaceX compares to other US-based aerospace companies. Since all four of these competitors are publicly listed companies, we have used the Market Capitalization unit for comparison.
Above: Market caps according to stock prices of publicly traded companies as of October 8th, 2021 (Source: NASDAQ, CNBC); Compiled by Iqtidar Ali at TeslaOracle.com
The recent increase related to the worth of SpaceX has resulted in an unprecedented hike in Elon Musk's personal net worth as well. Rival Blue Origin owner and founder of Amazon Jeff Bezos is now relegated to the second place in the world's top billionaires rankings (as reported by Bloomberg Billionaires Index).
The intense focus of Elon Musk on delivering current and future SpaceX projects for NASA, the proliferation of Starlink satellite broadband, and the preliminary success of the Starship Program has clearly led to increased investor confidence in the company.
Video: Elon Musk's SpaceX hits $100B valuation (YouTube: Yahoo Finance)
“It might sound crazy, but I think you could IPO a Starlink on its own with a minimum valuation of $100 billion. Because you’re talking about a whole new network of internet connectivity to reach the globe,” Robert Jacobson, the founder of Space Advisors told Yahoo Finance.
The space travel industry is still in its infancy and Jacobson and his colleagues at Space Advisors predict that it will be a trillion-dollar global industry within a decade.
Written by: Iqtidar Ali. An earlier version of this article was originally published by Tesla Oracle. Revised update edited by EVANNEX.