SpaceX, billionaire Elon Musk’s space tourism company, surpassed the $100 billion valuations, CNBC reported. The upgrade represents a 33% increase from the last valuation in February 2021.
SpaceX has an agreement to sell up to $755 million in shares. This was achieved thanks to the sale of shares from its investors. Each share is worth $560.
SpaceX is now valued at $100.3 billion, surpassing the $74 billion reached in February 2021. SpaceX became the second most valuable private company globally, behind only Bytedance, a Chinese technology organization.
Elon Musk continues to work for SpaceX to introduce the next generation massive rocket. He seeks to innovate in space tourism by launching people to the Moon and Mars. So far, they have flown multiple test flights. They are awaiting regulatory approval for their next launch.
In addition, Elon Musk’s project extends to the creation of Starlink satellite broadband. It consists of building a network interconnected by 12 thousand satellites located in low Earth orbit. The network is in its beta version and has more than 100 thousand users in 14 countries. The first tests have shown favorable results for use in online video games and streaming content.