Elon Musk's SpaceX Gets 60% Higher Valuation In Latest Funding Round At $74B: Report

SpaceX, a company led by Tesla Inc TSLA CEO Elon Musk, raised $850 million in a funding round last week, CNBC reported Tuesday.

What Happened: The space exploration firm raised the funds at $419.99 per share. After the latest fundraising, SpaceX is valued at $74 billion, according to CNBC.

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The latest raise values SpaceX 60% higher compared with the previous round in August when it raised nearly $2 billion at a valuation of $46 billion.

Why It Matters: Notably, the funds were raised just one cent shy of $420, an infamous figure that caused plenty of trouble for Musk in 2018. 

In December, it was reported that SpaceX was seeking a valuation of $92 billion in a new funding round.

The company plans to send four space tourists to orbit Earth on “the world’s first all-civilian mission” during the fourth quarter this year.

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