Elon Musk runs SpaceX, a company that makes satellites and shuttles for space travel. Bloomberg claimed that SpaceX is planning to sell its private shares in a deal that would value the company at more than $500 billion.
This means that SpaceX is about to beat OpenAI’s record. OpenAI sold its shares for a record-setting $500 billion, making it the most valuable company in history.
How much will SpaceX’s value be?
According to the people Bloomberg cited, the private share sales could make SpaceX worth about $800 billion more. A news source spoke to people who knew about the situation, who said that the company’s latest bidding offer could change depending on how interested private buyers and sellers are, among other things. Insiders sold shares in SpaceX. The company’s board of directors talked about the terms of the sale on Thursday at its Starbase hub in Texas.
Someone else who knows about the situation said that the price being talked about for SpaceX shares is more than $400 each. The company run by Elon Musk would be worth between $750 billion and $800 billion, but the exact amount could change.
If the plan goes through, SpaceX will pass OpenAI to become the most valuable privately held company. In October, the ChatGPT owner set a new record by being worth $500 billion. A lot has changed since July, when SpaceX sold shares for $212 each to raise money and value the company at $400 billion.
Read also:
- Elon Musk said We will not rest until Grok is flawless
- 5 behaviours to adopt from Elon Musk to achieve success
- Gen-Z innovators turn down Musk’s multimillion-dollar offer
- Sudeep Pharma IPO Hits 300% Subscription
The company has not announced the share sale.
An earlier story in the Wall Street Journal and the Financial Times, citing anonymous sources familiar with the matter, said that a deal would be worth $800 billion to SpaceX.
When people heard that SpaceX had raised its value, shares of EchoStar Corp., a company that makes satellite TV and cell phones, went up as much as 18%. This comes a month after EchoStar agreed to pay $2.6 billion to sell SpaceX radio rights.
Is SpaceX going to go public?
Another person who knows about the situation told Bloomberg that SpaceX could try to go public as early as the end of next year.
At a $8 billion valuation, SpaceX would need to sell $40 billion in shares in order to go public. This would make it the largest IPO ever. This is a lot more than Saudi Aramco’s 2019 listing of $29 billion.
If SpaceX were to go public, its stock price would be subject to the same fluctuations that happen with private companies. If SpaceX goes public, it could join the 20 biggest companies in the world, putting it in the same group as Musk’s Tesla, and worth $800 billion.
