Elon Musk’s Spacex Has Raised Over $337 Million In New Funding

Elon Musk Considers Developing A New Social Media Platform
Elon Musk Considers Developing A New Social Media Platform

SpaceX, the rocket company founded by billionaire Elon Musk, has raised $337.4 million in equity funding, according to a regulatory filing on Wednesday.

According to CNBC, SpaceX, which has Alphabet Inc (GOOGL.O) and Fidelity Investments among its investors, has a $100 billion valuation following a secondary share sale in October. In April, it raised approximately $1.16 billion in equity financing.

SpaceX did not respond immediately to Reuters’ request for more information on the latest funding round.

Civilians have been successfully launched into space by all three rocket companies.

Morgan Stanley estimates that the space economy could be worth $1 trillion by 2040.

Musk, who also runs several futuristic companies such as Tesla Inc (TSLA.O), Neuralink, and Boring Co, stated earlier this year that SpaceX’s Starship rockets will land on Mars before 2030.

READ ALSO: Elon Musk Is Now Worth $230 Billion—As Much As Bill Gates And Warren Buffett Combined

For the National Aeronautics and Space Administration, SpaceX has already launched numerous cargo payloads and astronauts to the International Space Station (NASA).

In the burgeoning constellation of commercial rocket ventures, the company competes with former Amazon.com Chief Executive Jeff Bezos’ space venture Blue Origin and billionaire Richard Branson’s Virgin Galactic (SPCE.N).