SpaceX valued at $350bn as company agrees to buy shares from employees
SMRTR summary
SpaceX's value has surged to $350 billion, nearly doubling from a year ago, as the company and investors agree to buy employee shares at $185 each. The deal allows for up to $1.25 billion in share purchases, with SpaceX offering to buy $500 million worth. Elon Musk, who owns 42% of SpaceX, has seen his personal fortune grow to $384 billion. SpaceX continues to benefit from government contracts, securing over $700 million from the US Space Force in October alone.
SMRTR provides this summary for quick context. The original article belongs to The Guardian.
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