SpaceX Seeks Record Valuation of $800 Billion in Latest Secondary Stock Sale
In a strategic effort to reinforce its status as the most valuable private technology firm globally, SpaceX is in discussions to achieve a record valuation of around $800 billion in its latest secondary stock sale. This valuation would place the company, owned by billionaire Elon Musk, ahead of OpenAI, which is estimated to be valued at about $500 billion.
According to the Financial Times, sources familiar with the matter indicated that Starlink, SpaceX's satellite internet division, has been engaging with investors recently to gauge their interest in participating in the stock sale. The current estimated value of the offered shares is approximately $400 billion, which will be presented to investors at double the price.
This round of funding continues the company's practice of conducting semi-annual secondary sales aimed at providing opportunities for investors and employees to realize gains from their stakes in the company.
Founded 23 years ago, SpaceX is a leading player in the commercial rocket and space exploration sector, currently spearheading a global expansion in satellite internet services through its extensive Starlink network. The new target valuation reflects a significant acceleration in the company's growth rate, particularly after its valuation doubled between mid-last year and July of this year.
This rapid growth can be attributed to several factors, notably investor confidence in Elon Musk's technical prowess, along with his political connections, which are expected to provide the company with a competitive edge in the upcoming phase.
The Wall Street Journal was the first to report this target valuation, which is anticipated to generate renewed investor interest in one of the most influential companies in the space and advanced technology sectors.
