SpaceX aims for $800B valuation in secondary share sale, WSJ reports
Elon Musk’s aerospace company, SpaceX, is in talks for a secondary share sale that could potentially value the company at up to $800 billion, as reported by The Wall Street Journal on Friday.
In addition to the share sale, SpaceX is considering the possibility of going public by the end of next year, according to the report. At this valuation, SpaceX would surpass the $500 billion valuation achieved by OpenAI, the maker of ChatGPT, during its recent share sale in October.
SpaceX has been heavily investing in reusable rockets, launch facilities, and satellites, while also competing for government contracts with other players in the space industry such as Jeff Bezos’ Blue Origin. The company currently operates the world’s largest network of satellites in low earth orbit through its Starlink project, which provides satellite internet services.
Should SpaceX decide to go public, its Starlink business would be included in the IPO. This move was previously considered by the company.
During Tesla’s annual shareholders meeting last month, Musk, who serves as the CEO of both Tesla and SpaceX, expressed his reservations about running publicly traded companies due to the challenges they pose, such as attracting “spurious lawsuits” and hindering effective operations. Despite this, Musk stated his desire to find a way for Tesla shareholders to participate in SpaceX and even suggested the possibility of taking SpaceX public in the future.
For more insights on OpenAI and SpaceX, watch the video above.
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