SpaceX Raises Nearly $2 Billion In Largest Round Of Funding

Elon Musk’s SpaceX has raised $1.9 billion in funding in the past month, according to a Bloomberg report. It marks SpaceX’s largest-ever round of funding, spurred by a boom period for the space exploration company, and with more planned in the near future.

The company was able to sell off most of the $2.07 billion offerings it presented to a group of 75 investors. It is now predicted that the funding will push the company to a market value of $46 billion, potentially making it one of the biggest venture-backed outfits in the U.S. Far from finished, it plans to offer $165 million in equity and preferred stock soon.

SpaceX’s funding success comes during a time when its business is thriving and its horizons are expanding. The company recently made its sixth flight with its Falcon 9 boosters and has put 58 Starlink satellites into orbit. With over 600 Starlink’s in orbit, the company plans to use to launch a commercial internet service in the near future.

SpaceX is also coming off the success of its first taxi flight for NASA, the first-ever for a private contractor. Launched on May 30, the flight demonstrated the company’s Dragon craft and successfully transported two astronauts to the International Space Station. The two men were safely returned to Earth on Aug. 2.

Prior to the Tuesday announcement of SpaceX’s successful funding round, an 11% surge in Tesla stock pushed CEO Musk past Bernard Arnault to become the fourth richest person in the world. Bloomberg estimates his current net worth to be around $84.8 billion.