SpaceX hit another milestone. It’s more valuable than
Bloomberg reported Monday that SpaceX was raising money at a $140 billion valuation, up from a recent valuation mark of about $125 billion. SpaceX didn’t immediately respond to a request for comment about how much capital it was planning to raise.
It’s only a 12% bump in valuation, but that belies the significance of the $140 billion figure. SpaceX has now edged out Lockheed (ticker: LMT), which has a valuation of $137 billion, making it the third-most-valuable aerospace and defense franchise in the western world behind only
(RTX), which holds the top spot, and
(AIR.France) hold spots four, five and six.
U.S. investors should be aware that some of the largest aerospace and defense companies in the world are Chinese. China State Shipbuilding Corp and China North Industries both generate more sales annually than Lockheed, according to Defense News.
Lockheed is expected to generate about $65 billion in 2022 sales. SpaceX’s revenue isn’t publicly disclosed, as it’s a privately held company, but it has launched about 60 missions this year. The launch sales, along with revenue from SpaceX’s Starlink Wi-Fi service, could total a few billion dollars.
SpaceX still needs external capital because it likely isn’t generating free cash flow at this stage. That will probably come later after it has more Starlink subscribers.
The bump in valuation will add roughly $7 billion in net worth for founder Elon Musk. That will help offset losses at Twitter and
(TSLA). Since Musk completed the purchase of the social-media company, his net worth is down almost $70 billion, according to Barron’s calculations.
Musk is worth about $187 billion, again, according to our math. That’s comprised of his stakes in
SpaceX, Twitter, tunneling firm Boring Co., and brain-implant-technology start-up Neuralink.
Tesla stock is up 3.5% in Tuesday trading Tuesday at $173.65. Slower-than-expected inflation data are lifting all stocks. The
Dow Jones Industrial Average
are up 2.5% and 1.7%, respectively.
Write to Al Root at email@example.com