The $421 per share price in the latest secondary offering, outlined by Chief Financial Officer Bret Johnsen in the memo to shareholders, is nearly double the $212 per share set in July at a $400 billion valuation.The valuation surpasses the previous record of $500 billion that ChatGPT owner OpenAI set in October, once again making SpaceX the most valuable company in the world.
If Musk decides to go ahead with the IPO, it would be another splashy venture for him, but it would depend on a series of ambitious and risky plans that SpaceX would have to realize in the coming years.
SpaceX is moving ahead with plans for an initial public offering that would raise significantly more than $30 billion in a transaction that would make it the largest listing of all time, Bloomberg reported earlier this week.
The Musk-led company is targeting a valuation of around $1.5 trillion for the entire company, which would keep SpaceX close to the market value set by Saudi Aramco during its record 2019 listing. The timing of the IPO and associated valuation are uncertain, and the company could decide not to proceed, Johnsen said in the email.
A representative for SpaceX, formally known as Space Exploration Technologies Corp., did not respond to a request for comment.
The company conducts tenders twice a year, giving shareholders, including employees, the opportunity to redeem or purchase more shares. In this case, SpaceX has determined its fair market valuation as a precursor to an initial public offering next year.
The world’s most prolific rocket launcher, SpaceX, dominates the space industry with its Falcon 9 rocket that carries satellites and people into orbit.
SpaceX is also a leader in providing internet service from low Earth orbit through Starlink, a system of thousands of satellites serving millions of customers.
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