Bloomberg News: Elon Musk’s SpaceX in talks to raise funds at US$44b valuation

SpaceX owner and Tesla CEO Elon Musk during the automobile awards 'Das Goldene Lenkrad' (The golden steering wheel) given by a German newspaper in Berlin, Germany November 12, 2019. — Reuters pic
SpaceX owner and Tesla CEO Elon Musk during the automobile awards 'Das Goldene Lenkrad' (The golden steering wheel) given by a German newspaper in Berlin, Germany November 12, 2019. — Reuters pic

SAN FRANCISCO, July 24 — Billionaire Elon Musk’s SpaceX is looking to raise new capital at a valuation of about US$44 billion (RM187 billion), Bloomberg News reported yesterday, citing people familiar with the matter.

The company is in talks with investors for raising about US$1 billion at a price of US$270 a share, the report said, adding that the round is unlikely to be completed within the next couple months and terms could change.

SpaceX did not immediately respond to a Reuters request for comment.

SpaceX’s Crew Dragon capsule delivered Nasa astronauts Bob Behnken and Doug Hurley to the International Space Station in May, marking the first US space capsule to do so with a crew since 2011.

The private rocket company also raised US$346.2 million in May at a valuation of about US$36 billion.

Musk is also the chief executive officer of electric carmaker Tesla Inc.

Tesla on Wednesday posted a profit for four straight quarters, a condition for it to be considered for the stock index of the largest US companies. — Reuters

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