SPACEX is in discussions to sell insider shares that could boost the value of Elon Musk’s rocket and satellite company to around US$350 billion, according to sources familiar with the matter.
That would be a significant premium to a previously mulled valuation of US$255 billion as reported by Bloomberg News and other media outlets just last month. It would also cement SpaceX’s status as the most valuable private US company.
SpaceX, formally known as Space Exploration Technologies, did not immediately respond to a request for comment.
The current conversations with SpaceX are ongoing and the details of a potential transaction could change depending on interest from insider sellers and buyers, said the sources, who asked not to be identified because they are not authorised to speak publicly.
The so-called tender or secondary offering, through which employees and some early shareholders can sell shares, provides investors in the closely held SpaceX a way to generate liquidity amid deepening ties between Musk and president-elect Donald Trump.
The potential valuation surge underscores the enormous gains that Musk’s empire has seen since the US presidential election. Tesla’s shares are up 42 per cent since Nov 5, while Musk’s own wealth has soared to about US$353 billion, according to the Bloomberg Billionaires Index
At roughly US$350 billion, SpaceX would also be on par with some of the world’s largest publicly traded companies in terms of market capitalisation. BLOOMBERG
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