Elon Musk's company has become the most valuable private startup in the world.

SpaceX has become the most valuable startup in the world after opening shares to investors

The private startup SpaceX founded by Elon Musk has become the most valuable in the world after offering investors the opportunity to purchase shares of the company. The market valuation of the rocket and satellite manufacturer has risen to $350 billion, thanks to a 65% increase in the company's share price. This was reported by the Financial Times citing sources.

According to the deal, SpaceX, along with investors who expressed particular interest in the billionaire's company, will purchase shares worth $1.25 billion at a price of $185 per share.

SpaceX surpassed ByteDance, the owner of TikTok, with a market valuation of about $300 billion, which had previously been on a decline last month.

SpaceX itself will purchase shares worth over $500 million, and the remainder will come from external investors eager to support Musk's business interests.

It is worth noting that Musk spent no less than $260 million during the U.S. presidential elections to help Donald Trump return to the White House. According to Trump, Musk and businessman Vivek Ramaswamy will lead a new organization aimed at improving government efficiency and combating bureaucracy.

Recall that Elon Musk's SpaceX received a contract from the Pentagon to expand Ukraine's access to a more secure, military version of its Starlink satellite distribution network. According to the contract, 2500 Starlink terminals already in Ukraine will have access to Starshield - a classified and encrypted signal via Starlink, which is harder to intercept or jam. This is in addition to the 500 terminals that had already been connected to Starshield earlier.