Elon Musk's SpaceX Becomes A $350 Billion Company - Laxman Baral Blog
Elon Musk's SpaceX Becomes A $350 Billion CompanyElon Musk's SpaceX Becomes A $350 Billion Company

Elon Musk’s SpaceX Becomes A $350 Billion Company Elon Musk’s SpaceX has been valued at $350 billion (about Rs. 483 trillion). With the valuation last week, the company has asserted its dominance over the world’s biggest brands.

The valuation is based on the latest sale of SpaceX’s secondary shares. According to CNBC, the company’s investors and board members approved the purchase of $1.25 billion (172 billion rupees) of new shares for $185 per share. It is said that the shares held by the company were not used for new capital expansion.

The company was previously valued at $210 billion in June. Since then, the company’s market valuation has increased by 67 per cent.

According to the latest valuation, SpaceX has also surpassed the world’s most famous luxury brands. The current valuation of French luxury brand LVMH, which owns brands such as Louis Vuitton, Moët Ennis, and Tag Heuer, is $347 billion.

Similarly, Coca-Cola has a market valuation of $274 billion. McDonald’s has a market valuation of $215 billion.

After the company’s market valuation reached $350 billion, Musk took to social media to say that no investor wanted to sell SpaceX’s shares even after it reached that valuation. He also bought some shares from employees to bring new investors into the company.

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