SpaceX's Valuation Surpasses Tesla's
Main page News, Elon Musk, Tesla

SpaceX's valuation, Elon Musk's aerospace company, has risen to $33.3B, CNBC reported on May 31 citing sources familiar with the company's latest fundraising round.

As a result, SpaceX has just surpassed Tesla, Elon Musk's electric car company, reaching a market cap of $32.73B as of June 3.

In December last year, SpaceX had an estimated value of around $30.5B. Shortly afterwards, it announced it planned to raise about $500M in investments.

Since the beginning of 2019, SpaceX has attracted more than $1B from investors. The company has been raising funds to launch its own international Internet distribution system.

On May 24, SpaceХ launched a rocket with 60 satellites into space as part of its global Internet Starlink program. The company intends to launch 12,000 satellites into orbit by 2024.

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