Elon Musk's SpaceX has become the world's most valuable private startup after offering investors to buy shares . The expected market value of the rocket and satellite manufacturer rose to 350 billion. USD due to a 65% rise in the company's share prices, the Financial Times (FT) newspaper reported, citing its sources.
Under the terms of the deal, SpaceX and investors who are showing increased interest in the billionaire's enterprise will buy shares of the company worth 1.25 billion. USD at a price of USD 185 per share. A few months ago, the startup's shares were sold for 112 USD, and its value was estimated at 210 billion. USD.
SpaceX surpassed TikTok owner ByteDance, which was valued at nearly $300 billion last month after a share buyback program.
SpaceX itself will acquire nearly 500 mln. USD in shares, with the rest coming from outside investors who are rushing to support the expanding business interests of Musk, the world's richest entrepreneur who has become a close confidant of US President-elect Donald Trump, the publication writes
Musk spent at least 260 million USD during the US presidential race to help Trump return to the White House. According to Trump's statement, Musk and businessman Vivek Ramaswamy will lead a new department that will focus on improving government efficiency and fighting red tape.