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Elon Musk’s SpaceX in talks to raise funds at US$44 billion valuation

  • Musk founded SpaceX in 2002 with the ultimate goal of enabling people to live on other planets
  • The company could ultimately be worth as much as US$175 billion, according to Morgan Stanley

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A SpaceX Falcon 9 rocket and Crew Dragon spacecraft carrying Nasa astronauts Douglas Hurley and Robert Behnken lifts off during their mission to the International Space Station from Kennedy Space Centre in Cape Canaveral, Florida, on May 30. Photo: Reuters
Bloomberg

Billionaire Elon Musk’s Space Exploration Technologies Corp is in talks to raise new capital at a valuation of about US$44 billion, according to people with knowledge of the matter.

The company, better known as SpaceX, is in discussions with investors to raise about US$1 billion at a price of US$270 a share, said the people, who asked not to be identified because the talks are private. The round would value the company at about US$44 billion, before taking into account the new capital, they said.

The funding is unlikely to be completed within the next couple months and terms could change, one of the people said.

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SpaceX did not respond to requests for comment.

Elon Musk, founder and chief executive of Space Exploration Technologies Corp, celebrates after the launch of a SpaceX Falcon 9 rocket and Crew Dragon spacecraft on Nasa's mission to the International Space Station from the Kennedy Space Centre in Cape Canaveral, Florida, on May 30. Photo: Reuters
Elon Musk, founder and chief executive of Space Exploration Technologies Corp, celebrates after the launch of a SpaceX Falcon 9 rocket and Crew Dragon spacecraft on Nasa's mission to the International Space Station from the Kennedy Space Centre in Cape Canaveral, Florida, on May 30. Photo: Reuters
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Any new funding would follow a slew of earlier rounds. The most recent funding effort was for US$500 million at a valuation of US$36 billion, or US$220 a share, according to a CNBC report in March.

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