According to sources, SpaceX is likely to sell insider shares in a potential tender offer valuing the rocket company close to £273 billion ($350 billion). This move could make SpaceX the most valuable private startup globally, surpassing major defence and aerospace firms like Lockheed Martin and GE Aerospace. As Bloomberg reported last month, SpaceX's valuation far exceeds previous estimates of £199 billion ($255 billion).
Selling stocks internally at a £273 billion ($350 billion) valuation marks a significant leap, with SpaceX becoming £78 billion ($100 billion) or 40% more valuable in a short span. The Elon Musk-owned company was previously valued at £164 billion ($210 billion) during an earlier tender this year.
Furthermore, SpaceX shares were sold at a £137 billion ($175 billion) valuation in December 2023, which is half of the latest tender estimate. The rocket and satellite firm has consistently executed multiple tender offers at regular intervals.
Liquidity Boost Amid High Confidence in Company Projects
SpaceX does not have shares listed on stock exchanges. Consequently, the secondary offering will enable employees and early stakeholders to sell shares while SpaceX remains a private firm. This move could significantly boost liquidity without requiring a conventional fundraising round.
However, sources noted that the transaction details and the company's valuation could fluctuate based on buyer and seller interest during ongoing insider trade negotiations. The potential tender reflects strong confidence in SpaceX's revolutionary programmes, including the Starship spacecraft, the Starlink satellite network, and its leadership as a global launch provider.
Additionally, SpaceX works closely with NASA and the US Armed Forces, reinforcing its strategic importance. The company has not yet responded to media inquiries. This development comes amidst Musk's strengthening ties with President-elect Donald Trump. Musk is also slated to work with the incoming Trump administration as co-leader of the Department of Government Efficiency.
Higher Valuation to Boost Musk's Wealth Significantly
Elon Musk, the wealthiest person on the planet, has an estimated net worth of £262 billion ($336 billion) as of December 3, according to Forbes Real-time Billionaires List. Musk holds over a 40% stake in SpaceX, and the potential valuation increase could add nearly £31 billion ($40 billion) to his personal wealth if the tender is finalised.
This would mark a strong recovery for Musk, who faces a potential £78 billion ($100 billion) loss in theoretical wealth after a Delaware Chancery Court judge rejected his 2018 Tesla CEO pay package, despite shareholder approval.
Musk also controls approximately 20% of Tesla stock, which has surged over 40% since early November, currently trading at more than £275 ($353) per share.
