The Musk-led company is targeting a valuation of about US$1.5 trillion for the entire company
[TEXAS] SpaceX has authorised an insider share sale that values Elon Musk’s rocket and satellite maker at about US$800 billion, according to a company message seen by Bloomberg on Friday (Dec 12).
The company also said that it’s preparing for a possible public offering in 2026, a deal aimed at funding an “insane flight rate” for its developmental Starship rocket, artificial intelligence data centres in space and a base on the moon.
The per-share price of US$421 in its latest secondary offering, laid out by chief financial officer Bret Johnsen in the memo to shareholders, is nearly double the US$212 a share set in July at a US$400 billion valuation.
The valuation vaults past the previous record of US$500 billion that ChatGPT owner OpenAI set in October, making SpaceX once-again the world’s most valuable closely held company.
SpaceX is moving ahead with plans for an initial public offering (IPO) that would seek to raise significantly more than US$30 billion in a transaction that would make it the biggest listing of all time, Bloomberg reported earlier this week.
The Musk-led company is targeting a valuation of about US$1.5 trillion for the entire company, which would leave SpaceX near the market value that Saudi Aramco established during its record 2019 listing.
The timing of the IPO and the corresponding valuation is uncertain, and the company may decide not to move forward, Johnsen said.
A representative for SpaceX, formally known as Space Exploration Technologies, did not respond to a request for comment.
The company does tender offers twice a year, giving shareholders including employees the chance to cash in or buy more shares. In this case, SpaceX has set its fair market valuation in a precursor to an IPO next year.
The world’s most prolific rocket launcher, SpaceX dominates the space industry with its Falcon 9 rocket that lifts satellites and people to orbit.
SpaceX is also the industry leader in providing Internet services from low-Earth orbit through Starlink, a system of thousands of satellites that serves millions of customers. BLOOMBERG
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