"Privately held rocket company SpaceX's valuation rose to $400 billion following recent private market stock sales, significantly increasing from $350 billion in December."
"Elon Musk, owning 42% of SpaceX, saw his net worth climb $3 billion to $349 billion, though he remains down $83 billion since the beginning of 2025."
"Despite a 29% drop in Tesla's shares this year, which fell to a market cap of $959 billion, SpaceX's advancements helped cushion the financial impact on Musk's wealth."
"SpaceX has established a near monopoly in the rocket industry, crucial for the increasing demand for satellite launches and its expansive broadband network capabilities."
SpaceX's valuation has surged to $400 billion, up from $350 billion in December, solidifying its dominant position in the rocket industry. Elon Musk owns 42% of SpaceX and has seen a rise in his net worth to $349 billion, even as it remains down $83 billion since 2025's start. Tesla's shares dropped 29% this year to a market cap of $959 billion due to a 10% sales decline, particularly in Europe. Meanwhile, SpaceX's advancements in satellite technology support its growing dominance and future plans to expand its broadband network to 34,000 satellites.
Read at 24/7 Wall St.
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