Elon Musk’s SpaceX has reached a valuation of $350 billion following a secondary share sale, as reported by CNBC. This represents a 67 percent surge since June 2024, placing the private space company ahead of major corporations such as McDonald’s and Coca-Cola in terms of market worth.
Musk, already the wealthiest person in the world, has seen his fortune soar beyond $400 billion, making him the first individual ever to reach this milestone. The success of SpaceX highlights not only its growing influence in the space industry but also Musk’s ability to inspire unprecedented confidence among investors.
This surge in valuation comes amid Musk’s deepening ties to president-elect Donald Trump. Investor enthusiasm has likely been bolstered by Trump’s promise to ease regulatory hurdles, including environmental approvals. Such assurances create a favorable environment for SpaceX to expand its operations without the delays typically caused by bureaucratic obstacles. Musk expressed excitement over the development, tweeting, “This is awesome,” in response to Trump’s announcement.
Musk also highlighted the rarity of this valuation milestone, noting that few investors were willing to sell shares even at the $350 billion mark. Instead, SpaceX limited its buybacks from employees to make room for new investors eager to participate in the company’s growth.
SpaceX is now poised to make significant advancements in its core projects. The company’s Starship program, a heavy-lift launch platform, is central to NASA’s plans to return humans to the Moon for the first time in over 50 years. Meanwhile, SpaceX has already deployed over 6,700 Starlink satellites, creating the largest satellite constellation in history to provide global consumer internet services.
The company’s partnership with the Pentagon further underscores its growing influence in the defense sector. SpaceX plays a key role in deploying classified assets such as spy satellites, reinforcing its position as a trusted government contractor.
Trump’s regulatory support has further strengthened SpaceX’s strategic position. With fewer barriers to navigate, the company is likely to accelerate its technological advancements and infrastructure projects. This includes its increasing presence in government-funded initiatives, which are expected to boost its long-term profitability.
Adding to its advantage, Trump recently named Jared Isaacman—a billionaire tech entrepreneur and SpaceX space tourist—as the next head of NASA. This appointment could offer SpaceX even greater leverage in securing federal contracts and funding for its ambitious ventures.