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Elon Musk's SpaceX: US's Top Startup Now Worth Nearly $150 Billion

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Elon Musk's SpaceX: US's Top Startup Now Worth Nearly $150 Billion

SpaceX is the most valuable US startup

Elon Musk's SpaceX, which designs, manufactures, and launches advanced rockets and spacecraft, has been the most valuable startup in the US.

And now this company, which is headquartered in Hawthorne, California, has just gotten even bigger, hitting a valuation of nearly $150 billion.

According to Bloomberg, SpaceX is initially pursuing a $750 million tender offer, said the people familiar with the matter, who asked not to be identified because the information wasn't public. SpaceX is offering shares at more than $80 apiece, they said.

According to CNBC, the company did not announce a raise of new capital at this time, with the purchase offer representing a secondary sale of existing shares.

Musk said in April that the company does "not anticipate needing to raise funding" to further bolster the programmes for Starship, Starlink, and other initiatives.

SpaceX typically performs these secondary rounds about twice a year to give employees and other company shareholders a chance to sell stock.

The new share price represents an increase of about 5% from its previous secondary sale at $77 each, at a valuation of about $140 billion. SpaceX did not respond to a CNBC request for comment on the purchase offer.

Meanwhile, Elon Musk has said Twitter's cash flow remains negative because of a nearly 50% drop in advertising revenue and a heavy debt load.

"We need to reach positive cash flow before we have the luxury of anything else," Musk said in a tweet early on Saturday.

After Musk acquired Twitter in October, the social media firm faced months of chaos, including layoffs of thousands of employees, criticism over lax content moderation, and an exodus of many advertisers who did not want their ads appearing next to inappropriate content.

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