SpaceX, a defence contractor and satellite communications company controlled by billionaire Elon Musk is reportedly valued at nearly $180bn. According to a report in Bloomberg News on Wednesday, insiders are selling shares at $97 apiece in a tender offer, estimated to range between $500m and $750m. Musk is thought to have a 44% share in SpaceX.
SpaceX’s valuation approaches $180bn
Closely held companies commonly use tender offers to provide employees an opportunity to unlock the value of their holdings before an initial public offering (IPO). It was reported last week that SpaceX was discussing selling insider shares at $95 each.
SpaceX is projected to generate about $9bn in revenues from its rocket launch and Starlink businesses this year, with estimates reaching around $15bn in 2024. Given the rapidly scaling business, analysts speculated that Elon Musk would want to make SpaceX public as early as 2024.
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However, he recently denied any discussions about an IPO for SpaceX’s flagship unit, Starlink, emphasising that such claims are “false.” The billionaire had previously expressed intentions to list Starlink when revenue growth and cash flow became stable. Musk recently wrote on his social media platform X that Starlink finally achieved breakeven cash flow.
The valuation report comes just a few days after SpaceX postponed the US military’s X-37B robot spaceplane launch due to adverse weather conditions at the Cape.
In a tweet on Tuesday, SpaceX stated:
We are standing down from tomorrow’s Falcon Heavy launch of USSF-52 to perform additional system checkouts.
