SpaceX Valuation Tops Boeing, Raytheon After Insider Share Sale Boosts It to Near $150B.
SpaceX, the privately held company that's developing its Starship rocket system and Starlink network of communications satellites in Texas.
The new valuation launches Musk's SpaceX past Boeing Co. and Raytheon Technologies to become the most valuable aerospace and defense company in the United States.
Founded in Hawthorne, Calif., in 2002, SpaceX has carved out a near monopoly in the global rocket launching market. Its rocket soars into the skies almost every week from Florida, transporting humans to the International Space Station and carrying Starlink satellites into orbit.
SpaceX's satellite-internet business is its main driver of valuation. It launched nearly 5,000 satellites into low-Earth orbit and boasts more than 1.5M subscribers that make up most of its valuation.