This are the largest single fundraising around to date by SpaceX
This would be the largest single fundraising round to date by SpaceX, according to PitchBook data.
Bloomberg, which reported about the funding round last week,'' stated the personal rocket company will get an equity value of $46 billion after the transaction, citing people knowledgeable about the matter.
ELON MUSK BECOMES 4TH RICHEST PERSON IN THE WORLD AFTER HISTORIC STOCK SURGE
Elon Musk has become the world's fourth-richest person, amassing a fortune worth almost $85 billion.
According to Bloomberg, the mark was crossed on Monday after Tesla Inc. 's shares rose more than 11 percent, boosting the net worth of the affable tech exec by nearly $ 8 billion.
Musk is behind only Facebook CEO Mark Zuckerberg, Microsoft co-founder Bill Gates and Amazon CEO Jeff Bezos on Bloomberg's Billionaires List at a net worth of $84.8 billion.
Most of the net worth of Musk is tied up in his electric car manufacturer Tesla, who this year saw its shares grow over 300 per cent.
Despite the effects of the coronavirus pandemic the car marker has remained profitable in recent quarters.
In the first half of 2020, Tesla sold more than 179,000 vehicles outpacing demand for its closest three rivals on the electric car market combined, according to Electrek.
Tesla announced a five-for-one stock split earlier this month, effective 31 Aug., to make its shares more available to a wider range of investors.
But Musk is also SpaceX's CEO and co-founder, who made history last month, sending the first NASA astronauts from American soil into space in almost a decade.
SpaceX is in the process of raising nearly $1bn in capital, according to CNBC, which will value the space exploration and defense business at $44bn.
Tesla 's shares were higher on Tuesday, gaining 2.3 per cent to $1,878.66 in trading.
The funding comes as SpaceX races to build out its Starlink satellite constellation to provide broadband net commercially by the end of 2020. The business launched its eleventh batch of satellites on Tuesday, and functions over 600 satellites from low-Earth orbit.