According to reports, a subsidiary of Saudi Arabia’s sovereign wealth fund and a company based in Abu Dhabi are planning to participate in a funding round worth several billion dollars for Elon Musk-led SpaceX.
The Information reported on Wednesday that the rocket manufacturer is estimated to be valued at around $140B as part of the funding round. In 2022 and 2020, SpaceX raised $2B and $2.6B, respectively, according to Space Capital, a venture capital firm.
The report stated that representatives from SpaceX and Morgan Stanley have informed investors that Saudi Arabia’s Water and Electricity Holding Company, a component of the sovereign wealth fund, and Alpha Dhabi of the United Arab Emirates are part of the funding round, according to Reuters.
