SpaceX share sale values the Elon Musk company at nearly $350 billion – CNBC TV18

SpaceX and its investors have agreed to purchase as much as $1.25 billion of the company’s common shares at $185 apiece in a transaction valuing Elon Musk’s rocket and satellite maker at about $350 billion, according to an email to employees seen by Bloomberg.

That share price is up from the $112 established during a previous valuation as of September 30, said the memo, which was separately confirmed by people familiar with the matter. SpaceX alone is offering to purchase as much as $500 million worth of common stock out of the total $1.25 billion, the email said.

The information confirms a Bloomberg report from last week and reflects the post-US-election gains across the billionaire chief executive officer’s business empire. A transaction of that magnitude would also cement SpaceX’s status as the most valuable private startup in the world, with a market capitalization rivaling some the largest public companies.

The company, formally known as Space Exploration Technologies Corp., didn’t immediately respond to a request for comment.