SpaceX Valuation to Hit Up to $400 Billion in Share Sale: Report
Elon Musk’s SpaceX is planning to raise money and sell insider shares in a deal that would value the company at around $400 billion, according to a recent report. This would mark the largest-ever valuation for a privately held US firm, surpassing even the likes of Amazon and Facebook.
The report, citing sources, suggests that the valuation is largely driven by the rapid growth of SpaceX’s “fast-growing” Starlink satellite internet unit. This division reportedly generates over half of SpaceX’s yearly revenue, making it a significant contributor to the company’s overall worth.
SpaceX is planning to raise funds through a share sale, which would involve selling insider shares to investors. The exact details of the sale, including the number of shares being offered and the pricing, are not yet clear. However, sources suggest that the deal could be worth tens of billions of dollars, depending on the final valuation.
The $400 billion valuation would be a significant increase from SpaceX’s last reported valuation of around $250 billion. The company has been on a tear in recent years, with its Starlink satellite internet service experiencing rapid growth and its reusable rockets becoming a key player in the global space industry.
SpaceX has been working on its Starlink satellite internet service for several years, with the goal of providing high-speed internet access to remote and underserved areas around the world. The service uses a constellation of low-Earth orbit satellites to provide fast and reliable internet connectivity, and has already signed up thousands of customers.
The company has also been working on its reusable rockets, which have become a key component of its space exploration efforts. The reusable rockets allow SpaceX to launch payloads into space at a significantly lower cost than traditional rockets, making it a more competitive player in the global space industry.
The $400 billion valuation would put SpaceX squarely in the same league as other major technology companies, such as Amazon and Facebook. It would also cement the company’s position as one of the most valuable privately held firms in the world.
The deal would likely be a significant milestone for Musk, who has been a driving force behind SpaceX’s growth and success. The CEO has been instrumental in developing the company’s technology and strategy, and has been praised for his vision and leadership.
The valuation would also be a testament to the growing importance of the space industry, which is becoming increasingly critical to the global economy. As governments and private companies alike look to explore space and develop new technologies, companies like SpaceX are poised to play a major role.
In conclusion, the reported $400 billion valuation of SpaceX would be a significant milestone for the company and the space industry as a whole. The deal would mark the largest-ever valuation for a privately held US firm, and would cement SpaceX’s position as a major player in the global space industry.
Source:
https://www.ndtvprofit.com/amp/technology/spacex-valuation-to-hit-around-400-billion-in-share-sale
