Musk’s Hawthorne rocket venture SpaceX raises over $337 million in equity funding



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Musk’s Hawthorne rocket venture SpaceX raises over $337 million in equity funding

SpaceX Exploration Technologies Corp., a two-decade old space-venture of EV trailblazer Tesla Inc co-founder and Chief Elon Musk - the world’s richest man to-date having had a net asset worth of $278.9 billion, up about 80 per cent this year according to Bloomberg’s billionaire index – headquartered on Hawthorne, California, had raised a stark upsum of $337.4 million in a latest funding that had taken place in form of equity financing, a regulatory filings with US SEC (Securities and Exchange Commission) had unfurled late on Wednesday.

On top of that, latest fundraising round in SpaceX backed by Fidelity Investments alongside Alphabet Inc among others, came against the backdrop of a secondary share sale back in October this year that in effect had mushroomed the rocket company’s valuation above a jawdropping $100 billion.

SpaceX, in tandem, had raised about a $1.16 billion in form of equity financing back in April this year.

Musk’s SpaceX raises $337 million in fresh funding

Nevertheless, although, a spokesperson for SpaceX had declined to comment over the latest funding, Musk’s space venture appeared to be miles ahead in market valuation of its competitors like of billionaire Branson-led Virgin Galactic alongside Jeff Bezos’ Blue Origin in context of a highly competitive commercial space tourism.

According to heavy-weight US lender Morgan Stanley, SpaceX could be valued over $1 trillion by 2040. Concomitantly, having founded back in 2002, SpaceX had received contracts from NASA (National Aeronautics and Space Administration) to land astronauts on international space stations this year, while it had already launched numerous cargo payloads and astronauts into the space, too.