Elon Musk’s Space X Becomes Second Biggest Privately-Owned Company
Space X, the space exploration company owned by Tesla CEO Elon Musk, is now valued at $100 billion, making it the second biggest privately held company, reports The Guardian.
According to analysts, the company is “challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure.”
Advertisement
In terms of valuation, the only privately held company larger than Space X is China’s ByteDance, parent company to popular social medium TikTok, which is valued at $140 billion.
Analysts estimate that Space X could be worth $200 billion and more as it explores a range of potential industries, including space infrastructure, earth observation and deep-space exploration.
As a result of the share sale this month, CEO Elon Musk’s net worth has increased to $241 billion. He owns about 48% of the company.
Musk overtook Amazon’s Jeff Bezos to become the world’s richest person in January, only to slip back before regaining the top spot later in the year. He is estimated by the Bloomberg billionaires index to have a $241bn fortune, about $42bn more than Bezos.
