SpaceX valuation rockets to over $100 billion after latest share sale

SpaceX Crew Dragon

SpaceX is worth a little more than $100 billion after investors agreed to a secondary sale of existing shares of the company.

According to people familiar with the deal, SpaceX has entered into an agreement to sell up to $755 million in existing shares.

Multiple sources confirmed with CNBC they will be offered at a price of $560 per share, indicating a valuation for the company of $100.3 billion.

Since it is a sale of existing shares, SpaceX will see no new capital added to their accounts.

With the new valuation, SpaceX is worth 33% more than it was earlier this year. In February the company was valued at $74 billion with shares at $419.99, one cent shy of one of Elon Musk’s favourite numbers.

It is also now the second-most valuable private company in the world. Only China’s Bytedance, the creator of Tik Tok and other social media services is worth more at $425 billion.