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SpaceX valuation spikes to $127 billion amid new funding

By Shubhangi Mathur - May 24, 2022, 07:46 PM ET

Last Updated - Feb 29, 2024, 11:56 AM EST

The space company raises $1.7 billion in a new funding

• The space company raises $1.7 billion in a new funding

Elon Musk’s space company SpaceX raised $1.7 billion in a new funding, sending the company’s valuation to about $127 billion.

CNBC reported that SpaceX is also conducting a secondary sale to company insiders and existing shareholders for up to $750 million in common stock.

The funding round comes amid allegations against Musk for sexual harassment by a former SpaceX jet flight attendant. The billionaire denied the allegations.

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