Billionaire Elon Musk's SpaceX Gets $337.4 Million Boost in Equity FinancingThe company, which counts Alphabet Inc and Fidelity Investments among its investors, had raised about $1.16 billion in equity financing in April.

ByThe Epoch Times•Dec 30, 2021

This story originally appeared onThe Epoch Times

Elon Musk'sSpaceXhas raised over $337 million in equity financing, according to aregulatory filingwith the U.S. Securities & Exchange Commission by the aerospace manufacturer on Wednesday.

As per the filing by the company, which is headquartered in Hawthorne, California, it raised approximately $337.4 million in financing.

SpaceX crossed $100 billion in valuation following a secondary share sale by existing investors in October, according toCNBC. The company, which counts Alphabet Inc and Fidelity Investments among its investors, had raised about $1.16 billion in equity financing in April.

Meanwhile, its founder Musk is the world's richest person with an estimated net worth of $278.4 billion, according to Forbes'real-time billionaire's list,placing him ahead of Amazon founder Jeff Bezos who is at second place with a net worth of $195.9 billion.

Earlier this month, the billionaire, who was named Time magazine's "Person of the Year" for 2021, announced that Space X is working on a program to take carbon dioxide (CO2) out of the atmosphere and convert it into rocket fuel, claiming that it will be important for his future missions to Mars.

The businessman announced the newson Twitterand invited people to participate in the program, writing: "SpaceX is starting a program to take CO2 out of atmosphere & turn it into rocket fuel. Please join if interested."

"Will also be important for Mars," he added.

Musk did not provide further details regarding the new sustainable fuel program but as per the company's website, the SpaceX Falcon 9 rocket usesrocket-grade kerosene(RP-1) propellant as fuel.

The kerosene used in the SpaceX Falcon 9 rocket emits carbon dioxide, carbon monoxide, carbon soot, and a small number of sulfur compounds, among other chemicals, into the atmosphere.

According toChampion Traveler, the Falcon 9 burns 29,600 gallons (112,184 kilograms) of highly refined kerosene, while 3.0 kilograms of CO2 goes into the atmosphere per kilogram of kerosene burned, meaning that roughly 336,552 kilograms of CO2 is added into the atmosphere per Falcon 9 launch.

Space X did not respond to comment.

Musk plans to send the first unmanned flight to Mars in 2024, slightly later than previously anticipated, after which he expects to land humans on Mars in 2026, as part of his plan to eventually colonize the planet.

NASA has contracted with SpaceX to use Starship for delivering astronauts to the lunar surface within the next few years.

"The goal overall has been to make life multi-planetary and enable humanity to become a spacefaring civilization," Musktold Time Magazine.

"And the next really big thing is to build a self-sustaining city on Mars and bring the animals and creatures of Earth there. Sort of like a futuristic Noah's ark. We'll bring more than two, though—it's a little weird if there's only two," Musk said.

Musk, who also founded transport tunnel maker Boring Company and brain-chip startup Neuralink, sold about$1.02 billion worth of his holdingsin electric vehicle maker Tesla this week, while simultaneously buying millions of shares via options.

ByKatabella Roberts

Katabella Roberts is a reporter currently based in Turkey. She covers news and business for The Epoch Times, focusing primarily on the United States.

The Epoch Times

The Epoch Times, founded in 2000, is headquartered in Manhattan, New York, with a mission to provide independent and accurate information free of political bias or corporate influence. The organization was established in response to censorship within China and a lack of global awareness regarding the Chinese regime's repression of the spiritual practice Falun Gong.

The Epoch Times is a widely read newspaper that is distributed in 33 countries and is available in 21 languages. The publication has been critical in providing balanced and detailed reporting on major global events such as the 2003 SARS pandemic and the 2008 financial crisis. Notably, the organization has played a key role in exposing corruption inside China.

Aside from its human rights coverage, The Epoch Times has made significant contributions in a variety of fields. It has received praise for its in-depth analysis and expert perspectives on business, the economy and U.S. politics. The newspaper has also received praise for its broad coverage of these topics.

A series of editorials titled "Nine Commentaries on the Communist Party" appeared in The Epoch Times in 2004. It asserts that freedom and prosperity in China can only be achieved by eliminating the Communist Party, which violated China's cultural and spiritual values. In addition, the organization led the Tuidang movement, which resulted in over 400 million Chinese citizens quitting the Communist Party. In spite of this, 90% of websites referring to the "Nine Commentaries" were blocked by the Chinese regime.

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