Athira Sethu
Kochi, 3 December 2024
Elon Musk’s rocket and satellite company, SpaceX, is negotiating with potential investors to issue shares to insiders. That deal may push its valuation as high as $350 billion, making it the world’s most valuable private company. A month ago, it was valued at an estimated $255 billion. In March of this year, the firm was valued at around $210 billion as part of a share sale.
SpaceX, formerly known as Space Exploration Technologies Corp., have not provided any comments as per reports.
Discussions around selling shares are still ongoing and final details may be changed. According to reports, insiders explained that there is a tender offer process through which employees and early investors will sell their shares. This sale allows insiders to cash out while keeping SpaceX as a private company.
The potential increase in the value of SpaceX highlights the growth of Musk’s business empire since the U.S. presidential election. For instance, Tesla, another company led by Musk, has seen its stock price rise by 42% since early November. Musk’s personal wealth has also increased, reaching about $353 billion, according to the Bloomberg Billionaires Index.
The SpaceX valuation will be approximately the same as some of the world’s biggest publicly traded companies in terms of value, if it amounts to $350 billion.
