SpaceX in talks to sell insider shares, raising valuation to $350 billion
The European Organisation for the Exploitation of Meteorological Satellites said it would prefer to pay U.S.-based SpaceX instead of waiting for Ariane 6. Photo: Miguel J. Rodriguez Carrillo/AFP via Getty Images
SpaceX is in discussions to sell insider shares, potentially boosting the company's value to around $350 billion, according to sources familiar with the matter.
That would be a significant premium to a previously mulled valuation of $255 billion. It would also cement SpaceX’s status as the most valuable private startup in the world, News.Az reports, citing Bloomberg.SpaceX was last valued at about $210 billion in a tender offer earlier this year.
SpaceX, formally known as Space Exploration Technologies Corp., didn’t immediately respond to a request for comment.
The current conversations with SpaceX are ongoing and the details of a potential transaction could change depending on interest from insider sellers and buyers, said the people, who asked not to be identified because they’re not authorized to speak publicly.
The so-called tender or secondary offering, through which employees and some early shareholders can sell shares, provides investors in the closely held SpaceX a way to generate liquidity amid deepening ties between Musk and President-elect Donald Trump.
The potential valuation surge underscores the enormous gains that Musk’s empire has seen since the US presidential election. Tesla Inc.’s shares are up 42% since Nov. 5, while Musk’s own wealth has soared to about $353 billion, according to the Bloomberg Billionaires Index
At roughly $350 billion, SpaceX would also be on par with some of the world’s largest publicly traded companies in terms of market capitalization.
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