SpaceX valued at $350bn as company agrees to buy shares from employees

Company and investors to buy up to $1.25bn of stock at $185 a share, up from $112 a few months ago

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Elon Musk’s rocket company SpaceX and its investors have agreed to buy shares from its employees, valuing the business at $350bn (£275bn).

The US business, in which Musk owns a 42% stake, and its backers are buying the stock at $185 a share, up from $112 a few months ago, according to an internal email seen by Bloomberg.