Saudi Arabia and UAE Investment Corporation plans to invest billions of dollars in SpaceX, valuing it at $140 billion

March 23, according to foreign media quoted people familiar with the matter, the Saudi Arabian Public Investment Fund and an investment company headquartered in Abu Dhabi, United Arab Emirates, plan to invest billions of dollars in space company SpaceX.

The financing round is expected to value SpaceX at about $140 billion (currently about 961.8 billion yuan), the report said.

SpaceX, led by Elon musk, raised $2 billion last year and $2.6 billion in 2021, according to venture capital firm Space Capital.

Representatives of the Abu Dhabi company and Morgan Stanley in the United Arab Emirates have told investors that Hydro Holdings, part of the Saudi Arabian Public Investment Fund, and Alpha Dhabi, a company based in the United Arab Emirates, are participants in this round of financing, the article said.

The Saudi Public Investment Fund's interest in SpaceX is particularly striking because Mr Musk had a quarrel with the head of the Saudi public investment fund over electric car maker Tesla. In January, Mr Musk claimed that he had received funds to privatise Tesla in 2018, and Yasser Yasir Al-Rumayyan, director of the Saudi Public Investment Fund, promised to support the deal. But in the end, the deal was not supported.