SpaceX, the aerospace company led by Elon Musk, informed employees on Friday that it plans to purchase insider shares in a deal that would set its valuation at approximately $800 billion. The company also indicated that it is preparing for a potential initial public offering (IPO) in the coming year.
In a communication to staff, SpaceX's chief financial officer, Bret Johnsen, announced the company's intention to purchase $2.56 billion worth of shares from shareholders at a price of $421 per share, almost twice the prior internal share valuation. Johnsen also hinted at a potential public offering in the letter, which was acquired by The New York Times.
The proposal for employees to purchase shares would position SpaceX as the most valuable private company globally, surpassing the artificial intelligence firm OpenAI, which is valued at approximately $500 billion. Should SpaceX decide to go public, it would probably rank among the largest public offerings in history, creating significant wealth for its shareholders.
Musk established SpaceX in 2002, transforming it into a leading force in the space sector with its rockets and Starlink satellite internet service. This company is a cornerstone of his business empire, contributing significantly to his wealth and influence, alongside his electric car company, Tesla. SpaceX collaborates extensively with the Pentagon, NASA, and other organizations, playing a crucial part in national security.
Elon Musk, who stepped down as an adviser to President Trump in May, has ambitious plans for SpaceX, including sending humans to Mars and completing a NASA mission to the Moon. Despite delays on the lunar project, Musk remains SpaceX's largest shareholder with a 44% stake.
SpaceX has raised billions from investors like Founders Fund and Alphabet, but Musk has hinted at taking the company public soon, despite his past criticism of the stock market. A potential IPO could unlock new growth opportunities for the company.
Key Points:
Musk’s plans include Mars missions and NASA’s Moon base.
Musk owns 44% of SpaceX, with billions raised from investors.
Musk teases a public offering to fuel SpaceX’s growth.