The valuation of Elon Musk’s SpaceX has recently hit $100 billion, following a secondary-share sale last week.

SpaceX has an agreement with investors to sell up to $755 million in stock. The new share price will be $560 (previously it was valued at $419.99). Importantly, in February, its market capitalization totaled $74 billion. Now, it amounts to $100.3 billion. At the same time, the company did not raise new capital. It just offered a secondary sale of existing shares.

As a result, Space Exploration Technologies Corporation is the second-largest private company in the world. The leading position belongs to the owner of Tiktok, Chinese Internet holding company Bytedance.

In recent years, SpaceX has increased its market cap significantly amid the financing of projects like Starship and Starlink.

By launching around 1,740 Starlink satellites to low Earth orbit, the company strives to provide high-speed Internet connectivity to even the remotest areas of the planet. The cost of Starlink services is $99 per month. There are more than 100,000 users worldwide.

The Starship rocket aims to land humans on other planets, including Mars and the Moon.  The next step is to launch the rocket into orbit. In August, Musk boldly stated that Starship is almost ready but the company is still awaiting approval from regulatory authorities.