Elon Musk’s SpaceX Raises Over $ 337 Million In New Funding | Money

A SpaceX Falcon 9 rocket stands on the launch pad as it is ready to transport four astronauts to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, United States, October 28, 2021. – Reuters pic

LOS ANGELES, December 30 – Billionaire Elon Musk’s SpaceX has raised $ 337.4 million (RM 1.4 billion) in equity financing, the rocket company revealed in a regulatory filing on Wednesday. SpaceX, which counts Alphabet Inc and Fidelity Investments among its investors, reached $ 100 billion in valuation following a secondary stock sale in October, according to CNBC. It had raised about US $ 1.16 billion in equity financing in April.

SpaceX did not immediately respond to Reuters’ request for details on the latest funding round.

The company competes with the space business of former Amazon.com CEO Jeff Bezos, Blue Origin and billionaire Richard Branson’s Virgin Galactic in the burgeoning constellation of commercial rocket companies.

All three rocket companies successfully launched civilians into space.

According to Morgan Stanley, the space economy could be worth $ 1,000 billion by 2040.

Musk, who also heads several futuristic companies including Tesla Inc, Neuralink and Boring Co, said earlier this year that SpaceX would land its Starship rockets on Mars well before 2030.

SpaceX has already launched numerous cargo and astronaut payloads to the International Space Station for the National Aeronautics and Space Administration (Nasa). – Reuters

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