Boring Company reportedly seeks funding at $20B valuation, more than double its last known price tag

Elon Musk’s Boring Company is reportedly pursuing fresh funding at a $20 billion valuation. If true, that would represent a staggering leap from the company’s last confirmed valuation of approximately $9.6 billion as of September 2025. That’s not just a premium. It’s roughly a 108% markup over where the company was priced less than a year ago, and nearly 3.5 times higher than some secondary-market estimates that pegged the firm as low as $5.7 billion during 2025. The gap between ambition and market reality The Boring Company has had a winding valuation history. Back in July 2023, the company was valued at around $8.6 billion. By September 2025, that figure had climbed to $9.6 billion. But secondary-market trading told a less flattering story throughout 2025, with estimates dipping to roughly $5.7 billion. Share price estimates for the company as of mid-2026 have hovered near $24.63 per share, with reported fluctuations. So seeking capital at a $20 billion valuation would require convincing investors that the company is worth significantly more than what the private market has recently been willing to pay. To date, the Boring Company has raised about $908 million from investors incl...