The rocket launching company, SpaceX, founded by Elon Musk, has seen a significant increase in its valuation. According to the Baillie Gifford U.S. Growth Trust, which holds the top stake in the company, SpaceX’s valuation rose by 12% over the last year.
Impressive Performance
In its annual review, the fund highlighted some remarkable achievements by SpaceX. In 2018, the company successfully completed 21 launches, with half of them making successful ground landings. However, in 2022, SpaceX took its performance to new heights by launching an astounding 61 orbital missions. This almost doubled its previous record of 31 missions set in 2021. On average, SpaceX launched a mission every six days from one of its three sites. This exceptional performance has positioned SpaceX as a dominant player in the launch market, capturing two-thirds of the market share.
Driving Down Costs
One of the keys to SpaceX’s success is its ability to drive down costs through innovation. By employing reusable rockets, the company has been able to significantly reduce expenses. Notably, it has successfully relaunched one of its Falcon rockets an impressive fifteen times. This cost-cutting strategy has contributed to the company’s financial stability.
Bright Future Ahead
Gwynne Shotwell, SpaceX’s COO and president, is optimistic about the future of the company’s Starlink internet business. She confidently stated that the business would generate profits this year. With such a promising direction, SpaceX is expected to continue its phenomenal growth and solidify its position as a leading player in the industry.
Elon Musk’s Stake
According to Bloomberg’s Billionaires index, Elon Musk’s stake in SpaceX is currently valued at $53 billion. This amount accounts for approximately a quarter of his overall net worth, which stands at an impressive $224 billion.
Overall, SpaceX’s remarkable performance and innovative strategies have propelled its valuation to new heights. With a strong market presence and promising ventures on the horizon, the future looks exceptionally bright for this pioneering company.