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SpaceX Valuation Hits $350 Billion with $1.25 Billion Share Buyback, Musk's Wealth Exceeds $425 Billion
Dec 11, 2024, 11:47 AM
SpaceX has achieved a valuation of $350 billion, making it the most valuable private startup globally. The company, led by Elon Musk, is set to buy up to $1.25 billion of its common shares from investors at a price of $185 per share, reflecting a 65% increase from its previous valuation in September. Musk noted that there was limited interest among investors to sell shares even at this high valuation. As a result of this surge, Musk's net worth has surpassed $425 billion, primarily driven by his stake in SpaceX and Tesla. This valuation positions SpaceX above major corporations such as Salesforce, Chevron, and Coca-Cola, further solidifying its status in the tech and aerospace sectors.
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