Search results for Valor Equity Partners
Finance
Musk longtime ally Valor distributes 8.5 percent of SpaceX stake in kind to investors worth $8.5 billion
Valor Equity Partners, a long-term investor in SpaceX, distributed part of its stake directly to limited partners rather than selling it, TechCrunch reported. The firm allocated 8.5 percent of its SpaceX shares, a transfer estimated at about $8.5 billion. SEC filings cited by Bloomberg show Valor has invested in SpaceX for decades. Valor will still hold more than 460 million SpaceX shares after the distribution.
Industry
Musk\'s Boring Company raises $3 billion in UAE-led round, valued at $23 billion
Elon Musk\'s tunnelling company The Boring Company raised $3 billion in a Series D round led by the United Arab Emirates and related investment institutions, valuing it at $23 billion. The valuation is about four times its roughly $5.7 billion value in 2022. The company plans to use the funds to hire staff, expand Loop projects and develop its Prufrock tunnelling machine, with a key focus on building more than 150 km of tunnels in the UAE.
Finance
SpaceX IPO creates billionaires beyond Elon Musk
SpaceX’s initial public offering pushed the value of Elon Musk’s stake above $1 trillion, while early investors and key executives also saw their holdings swell into the billions, CNBC reported. Shares traded at $185, up 37 percent from the $135 offer price. SpaceX’s market value briefly topped Amazon and Microsoft in its first week and now stands at about $2.43 trillion.
