Elon Musk's SpaceX Fetches 25% Higher Valuation In Latest Funding Amid Sexual Harassment Allegations

Tesla Inc TSLA CEO Elon Musk-owned SpaceX has raised a fresh round of funding that values the privately-held space company at $125 billion, the Wall Street Journal reported on Tuesday, citing an investor.

What Happened: The latest $1.5 billion fundraise lifts the valuation by 25% for SpaceX, which in 2021 had secured a $100 billion valuation.

SpaceX is also offering current and former employees an opportunity to cash out as it offers to buy shares from existing stockholders.

CNBC had on Sunday reported SpaceX is looking to raise $1.7 billion and secure a valuation of $127 billion, lower than the one reported to have been finalized, according to WSJ. 

The company did not immediately respond to Benzinga's request for comment.

See Also: Elon Musk's SpaceX Seeks Higher Valuation In $1.7B Funding Round Amid Sexual Harassment Allegations

Why It Matters: The funding follows two key developments for the billionaire entrepreneur — a $44 billion take-private bid for Twitter Inc TWTR and a sexual harassment allegation from a former SpaceX flight attendant. 

SpaceX paid $250,000, as part of a severance agreement, to the attendant in 2018, according to the Business Insider. Musk has denied the reports as “wild accusations.”

The world’s richest person is betting on making life multi-planetary and his company is building reusable rockets with ride-sharing capabilities to transport human and commercial cargo to Mars.

Posted In: Elon MuskSpaceXNewsSPACEFinancingGeneral