Elon Musk’s SpaceX valuation at $ 100 billion

Elon Musk’s valuation of SpaceX has crossed $ 100 billion following a sale of shares by existing investors announced this week, CNBC has learned.

SpaceX has a deal with new and existing investors to sell up to $ 755 million of insider stock at $ 560 a share, according to several people familiar with the deal, bringing the company’s valuation to $ 100.3 billion. The company has not raised new capital yet, sources said, with the takeover bid representing a secondary sale of existing shares.

The new share price is a 33% increase from SpaceX’s last valuation of $ 74 billion to $ 419.99 per share in February, when the company raised nearly $ 1.2 billion. The company had a similar side transaction in February, with an agreement for insiders to sell up to $ 750 million at the time.

SpaceX’s new valuation makes it one of the few privately held “centicorn” or “hectocorn” companies in the world – a billion dollar unicorn, 100 times more. Musk’s SpaceX is now the second most valuable private company in the world, according to CB Insights, behind China’s Bytedance and overtaking fintech company Stripe.

People spoke to CNBC on condition of anonymity because SpaceX is not a publicly traded company and the funding is private.

SpaceX did not respond to CNBC’s request for comment.

The company’s valuation has skyrocketed in recent years as SpaceX raised billions to fund work on two capital-intensive projects: Starship and Starlink.