Valuation of SpaceX Reaches $150 Billion
The valuation of Elon Musk’s SpaceX has reached nearly $150 billion after a recent share sale by existing investors, according to sources familiar with the matter.
Secondary Share Sale
SpaceX has an agreement with new and existing investors to sell up to $750 million in stock from insiders. The shares are priced at $81 each, as stated in a purchase offer sent by CFO Bret Johnsen.
This sale represents a secondary offering of existing shares and does not involve raising new capital. Musk had previously mentioned that there are no plans to raise funding for the company’s programs, including Starship and Starlink.
SpaceX typically holds these secondary share sales twice a year to allow employees and shareholders to sell their stock.
Heavy Investment in Starship Development
SpaceX is heavily investing in the development of its next-generation rocket, Starship. Musk expects the company to spend approximately $2 billion on its development this year.
The first Starship flight achieved significant milestones but also encountered multiple challenges. SpaceX is awaiting approval from the Federal Aviation Administration for a second launch, which is planned for the coming months. The FAA is currently involved in an environmental lawsuit regarding the regulation of SpaceX’s Starship.
Potential IPO of Starlink
There is no official update on the potential Initial Public Offering (IPO) of SpaceX’s Starlink business. Gwynne Shotwell, the President of SpaceX, stated earlier this year that there is no new information regarding an IPO. It was previously reported that Musk informed employees that Starlink is unlikely to go public until 2025 or later.