Musk raises $500m for SpaceX

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Elon Musk has raised $500.06 million (€441m) in fresh funding at a share price of an extremely buoyant $220 per share.

This is double what SpaceX was looking to raise, and means that his rocket company is now worth around $36 billion (and an improvement on last year’s $33 billion valuation).

It is again proof that investors love just about everything that Musk touches. In 2019 alone SpaceX raised a total of $1.33bn during 3 funding rounds.

SpaceX, as well as further developing its Falcon rockets it has other projects in the form of the Starlink mega-constellation, its Crew Dragon astronaut shuttle and Starship giant rocket.

Jonathan Hofeller, VP at SpaceX, told the Satellite 2020 conference that the company was building six satellites a day for Starlink, with 60 due to launch this coming weekend.


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