Rocket Lab Surpasses $30 Billion Valuation, Boosting 32,000 Kiwis
Rocket Lab Surpasses $30 Billion Valuation, Boosting 32,000 Kiwis
Rocket Lab, the Kiwi-American aerospace company, has reached a historic milestone with a valuation of $30.48 billion, driven by a 9.03% surge in its share price to $38.88. This marks a significant achievement for the company and its founder, Sir Peter Beck, whose estimated net worth has risen to $2 billion, thanks to his 10.5% stake in the firm.
Beck, who previously worked as an apprentice at Fisher and Paykel Appliances, has been instrumental in Rocket Lab's success. His strategic investments in various Kiwi start-ups, including Halter, Partly, Foundry Lab, Astrix Astronautics, and HeartLab, have further solidified his position as a key player in New Zealand's tech ecosystem.
What makes this milestone even more remarkable is the involvement of 32,000 New Zealanders who have invested in Rocket Lab through the Sharesies platform. The average purchase price for these investors is $12.76, and the company has recently been added to the list of US stocks eligible for the self-select KiwiSaver scheme. This move has allowed several hundred self-select customers to include Rocket Lab in their KiwiSaver portfolios.
The surge in Rocket Lab's stock price can be attributed to two key factors. First, the fallout between SpaceX founder Elon Musk and US President Donald Trump has created a more favorable environment for Rocket Lab. Trump's decision to withdraw the nomination of Musk's ally, Jared Isaacman, for the position of NASA administrator has shifted the balance in favor of Rocket Lab. Additionally, Trump's threats to cancel SpaceX's government contracts have further tilted the playing field.
Second, Rocket Lab is preparing for the first test launch of its new, crew-capable rocket, the Neutron. This rocket will directly compete with SpaceX for the first time, and the company has already begun securing customers for its $1 billion order book. The Neutron's development is a critical step in Rocket Lab's growth strategy, as it aims to expand its presence in the space industry.
While the Neutron will launch exclusively from the US, Rocket Lab is also investing in its space systems business, including satellite components manufactured at its expanded Auckland facility. This diversification strategy is expected to drive further growth for the company.
Other developments in the clean energy sector have also contributed to Rocket Lab's success. Infratil, a New Zealand-based company with a 37% stake in Longroad Energy, has seen its target price increase due to the final form of Trump's
