SpaceX deployed more than 50 additional satellites on Friday, adding to a constellation it uses to beam broadband internet coverage to the Earth below. AP
SpaceX deployed more than 50 additional satellites on Friday, adding to a constellation it uses to beam broadband internet coverage to the Earth below. AP
SpaceX deployed more than 50 additional satellites on Friday, adding to a constellation it uses to beam broadband internet coverage to the Earth below. AP
SpaceX deployed more than 50 additional satellites on Friday, adding to a constellation it uses to beam broadband internet coverage to the Earth below. AP

Tender offer for Elon Musk's SpaceX values company at about $150bn


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Elon Musk’s SpaceX is offering to sell insider shares at a price that would raise the closely held company’s valuation to about $150 billion, according to people familiar with the matter.

The most valuable US start-up is thought to be initially pursuing a $750 million tender offer.

SpaceX is offering shares at more than $80 apiece.

A $150 billion valuation would compare with $137 billion reported in January when SpaceX raised $750 million from investors. SpaceX has around $5 billion of cash on its balance sheet.

Representatives for SpaceX didn’t immediately respond to requests for comment. The size of the tender offer could change depending on interest from both insider sellers and buyers.

The Hawthorne, California-based company dominates the market for commercial space launch. The company sends payloads to orbit for private sector customers, as well as for the National Aeronautics and Space Administration and other government agencies.

It also ferries astronauts to and from the International Space Station for Nasa, and has run the first private space tourism mission for civilians to orbit the earth for several days.

On Friday, SpaceX successfully deployed more than 50 additional satellites, adding to a constellation it uses to beam broadband internet coverage to the Earth below.

Investors are watching closely to see whether Musk will spin off Starlink, having suggested he would do so when cash flow became more predictable.

UAE currency: the story behind the money in your pockets
Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

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UAE currency: the story behind the money in your pockets

Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

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Key 2013/14 UAE Motorsport dates

October 4: Round One of Rotax Max Challenge, Al Ain (karting)

October 1: 1 Round One of the inaugural UAE Desert Championship (rally)

November 1-3: Abu Dhabi Grand Prix (Formula One)

November 28-30: Dubai International Rally

January 9-11: 24Hrs of Dubai (Touring Cars / Endurance)

March 21: Round 11 of Rotax Max Challenge, Muscat, Oman (karting)

April 4-10: Abu Dhabi Desert Challenge (Endurance)

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
While you're here
Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The specs: Fenyr SuperSport

Price, base: Dh5.1 million

Engine: 3.8-litre twin-turbo flat-six

Transmission: Seven-speed automatic

Power: 800hp @ 7,100pm

Torque: 980Nm @ 4,000rpm

Fuel economy, combined: 13.5L / 100km

UAE currency: the story behind the money in your pockets
Updated: June 24, 2023, 5:59 AM`