Press "Enter" to skip to content

Elon Musk Raises $1.9 Billion In New Funding For SpaceX

Shares

Key Points

  • According to regulatory filings on Friday, billionaire Elon Musk announced $1.9 billion in fresh funding for his rocket firm SpaceX, just weeks after completing the first astronaut launch to space from U.S. soil since 2011.
  • The private rocket company will now have a valuation of $46 billion.
  • Furthermore, SpaceX recently secured a $316 million US government defense contract to launch military satellites into space for five years starting in 2022.
  • Visit The Financial Today’s homepage for more stories.

According to regulatory filings on Friday, billionaire Elon Musk announced $1.9 billion in fresh funding for his rocket firm SpaceX, just weeks after completing the first astronaut launch to space from U.S. soil since 2011.

The nearly $ 2 billion in fresh funding has been oversubscribed and is, according to PitchBook, the biggest fundraising round yet for SpaceX.

News of the funding was first reported by Bloomberg, which said that the private company will now have a valuation of $46 billion, citing people familiar with the matter.

According to Bloomberg, one of the biggest participants in the latest round was the Brokerage giant Fidelity Investments, which is already an existing investor in the company.

The funding comes just after SpaceX accomplished its most high-profile mission: The company sent a NASA crew to the International Space Station in May, marking the first orbital crewed flight from American soil since 2011.

On August 2nd, the two astronauts completed a safe return to earth—with SpaceX’s Dragon capsule splashing safely into the Gulf of Mexico and capping a signature achievement for Musk 18 years after he founded the space exploration company.

Furthermore, SpaceX recently secured a $316 million US government defense contract to launch military satellites into space for five years starting in 2022.

“Led by a string of remarkable feats by SpaceX, we are fielding a pace of incoming investor interest in the space economy on a level that may even exceed the autonomous car frenzy of 2016/2017,” Morgan Stanley analysts wrote in a recent note. The firm estimates that the “global space economy” will be worth at least $1.1 trillion by 2040.

Be First to Comment

Leave a Reply

Hi, I'm Alfred Cardenas!We’re running an equity crowdfunding campaign.

This is your chance to invest and own a part of The Financial Today!