Tesla boss Elon Musk sees rocket company SpaceX shares fly due to satellite hopes

TESLA boss Elon Musk has seen his rocket company SpaceX's shares fly due to satellite hopes.

Demand in privately held shares has upped 25 percent recently, according to data obtained by the New York Post.

"We just traded some at $340 a share," a Wall Street source told the Post.

The new figures equate to a quarter increase from the stock's $270 per share value on August 18.

SpaceX completed a weeks-long private share offering, that raised at least $1.9billion according to the source.

The stats imply that there is a market capitalization for SpaceX nearing $58billion now.

However, this is only a fraction of the $400billion cap of Tesla.

The news comes following an announcement that SpaceX will begin blasting top-secret payloads into orbit after the rocket firm penned a lucrative contract with the Pentagon.

The deal, potentially worth billions, is for launch contracts beginning in 2022 using the California firm's Falcon 9 and Falcon Heavy rockets.

In an announcement last Friday, US Space Force and Air Force officials said the contract would see SpaceX and US aerospace firm United Launch Alliance take care of national security payloads over the next five years.

They were up against Blue Origin, a rocket company run by Amazon boss Jeff Bezos, and Northrop Grumman as part of a four-way launch services competition known as National Security Space Launch Phase 2.

It's not clear what exactly the two firms will be launching. The Pentagon regularly uses private firms to launch spy satellites and other space tech.

"This was an extremely tough decision," said Colonel Robert Bongiovi, director of the Space and Missile Systems Center Launch Enterprise.

"I appreciate the hard work industry completed to adapt their commercial launch systems to affordably and reliably meet our more stressing national security requirements."

The Air Force said it awarded SpaceX and ULA $653million (£500million) in combined military launch contracts under the Pentagon's next-generation, multibillion-dollar launch capability program.

The contracts allocate $337million to ULA, a joint venture between Boeing Co and Lockheed Martin Corp.

SpaceX, on the other hand, gets $316million for the first missions of roughly 34 total that the two rocket firms will support.

ULA will receive a contract for approximately 60 per cent of those launch service orders using its next-generation Vulcan rocket.

Musk's SpaceX will receive approximately 40 percent, the Air Force's acquisition chief Will Roper said.

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