SpaceX Set to Claim World's Most Valuable Private Title Again at $800 Billion Valuation

SpaceX is preparing to sell insider shares in a transaction that would value Elon Musk's rocket and satellite maker at as much as $800 billion, people familiar with the matter said, reclaiming the title of the world's most valuable private company. The details, discussed by SpaceX's board of directors on Thursday at its Starbase hub in Texas, could change based on interest from insider sellers and buyers or other factors, said some of the people, who asked not to be identified as the information isn't public. According to sources, the price under discussion for the sale of some employees and investors' shares is higher than $400 apiece, which would value SpaceX at between $750 billion and $800 billion. The company would not raise any funds through this planned sale, though a successful offering at such levels would catapult it past the record of $500 billion valuation achieved by OpenAI in October. Elon Musk, on Saturday, denied that SpaceX is raising money at an $800 billion valuation without addressing Bloomberg's reporting on the planned offering. Musk's statement has sparked speculation about the company's financial plans and the potential implications for the private space industry. SpaceX's valuation has been a subject of interest in recent months, with the company's growth in the satellite and rocket sectors contributing to its increasing value. The company's Starlink satellite constellation, for example, has been a significant contributor to its revenue, providing high-speed internet services to remote areas around the world. The planned sale of insider shares is seen as a strategic move by SpaceX to maintain its valuation and potentially attract more investors. The company's board of directors is expected to finalize the details of the sale in the coming weeks, with some insiders predicting that the offering could be completed as early as next month. The implications of SpaceX's valuation are significant, not only for the private space industry but also for the broader economy. As the company continues to grow and expand its operations, it is likely to create new opportunities for investors, employees, and customers alike. However, the company's valuation also raises questions about its financial sustainability and the potential risks associated with its ambitious plans. In a statement, a SpaceX spokesperson said that the company is committed to its mission of advancing space technology and making it more accessible to people around the world. "We are excited about the opportunities that lie ahead and are confident that our valuation reflects the value that we bring to the market," the spokesperson said. The planned sale of insider shares is just the latest development in SpaceX's growth story, which has been marked by significant milestones and achievements in recent years. As the company continues to push the boundaries of space technology, it is likely to remain a major player in the private space industry for years to come. In related news, SpaceX is also exploring a possible initial public offering (IPO) as soon as late next year, according to one of the people briefed on the matter. The IPO would provide the company with an opportunity to raise funds and increase its visibility in the public markets. However, the details of the IPO are still unclear, and it is expected to be finalized in the coming months. The current status of SpaceX's planned sale of insider shares is that the company's board of directors is expected to finalize the details of the sale in the coming weeks. The offering is expected to be completed as early as next month, pending the interest from insider sellers and buyers.