SpaceX Reportedly In Discussions Over Insider Shares Sale At An Astounding $175B Valuation

In a recent development, Elon Musk’s SpaceX is said to be in discussions over a possible sale of insider shares, potentially valuing the company at an impressive $175 billion or more.

What Happened: A Bloomberg article published on Dec. 6, 2023, indicated that SpaceX is mulling over a tender offer that could span from $500 million to $750 million. According to anonymous sources, the company is thinking about offering shares at approximately $95 apiece.

The specifics and the scale of the tender offer might fluctuate, depending on the interest of both insider sellers and buyers. The $175 billion valuation signifies a premium on the $150 billion valuation SpaceX received through a tender offer earlier in the year.

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SpaceX has not yet responded to requests for comment. Headquartered in Hawthorne, California, Musk’s company currently dominates the commercial space launch services market with its Falcon rockets. It provides orbit payloads for private-sector clients, government agencies, and NASA. SpaceX also runs the Starlink service, providing internet from space through an expanding network of low-Earth orbit satellites.

Why It Matters: This development comes on the heels of the news that SpaceX is aiming for sales close to $15 billion in 2024, a significant jump from the projected sales of $9 billion for the current year. The report also highlighted that the company's satellite internet service, Starlink, is expected to surpass the rocket launch division in sales by next year, owing to its increased accessibility in more international regions.

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