Elon Musk’s SpaceX Raised $850 Million at $74 Billion Valuation

Elon Musk‘s SpaceX completed a $850 million equity funding round last week, according to people familiar with the funding.

According to the sources, SpaceX raised the $850 million at $419.99 per share or just 1 cent below the $420 price that Musk made infamous in 2018 when he announced he had enough funding to take Tesla private at that price.

The new funding round also represents an increase of around 60 percent in the firm’s valuation from its previous round in August, when SpaceX raised almost $2 billion at a $46 billion valuation.

SpaceX raised only a portion of the funding available in the marketplace, with one of the sources familiar with the funding saying, SpaceX received “insane demand” of around $6 billion in bids in three days.