Talks are under way over a share deal that could boost the value of Elon Musk’s rocket and satellite company SpaceX to more than $250-billion.
SpaceX, formally known as Space Exploration Technologies, declined to comment on the valuation, according to the Wall Street Journal.
Reports say that the plan, according to whichi employees and some early shareholders can sell shares, provides investors in privately held SpaceX a new way to profit from Musk’s close ties with US President-elect Donald Trump and the windfalls across the billionaire’s business empire.
The Financial Times, citing people with knowledge of the talks, earlier reported that SpaceX is preparing to launch a tender offer in December that will sell existing shares in the business at about $135 each, valuing the company at more than $250-billion.
The new valuation would be a record for an American private company, but is still lower than the $268-billion December 2023 valuation of ByteDance, the Chinese parent of social video phenomenon TikTok.
SpaceX is speeding development of its colossal Starship moon and Mars rocket. It also dominates the market for commercial space launch services with its Falcon family, sending cargo and people to orbit for Nasa and other government agencies.
SpaceX also operates its internet-from-space Starlink service.
[Image: https://www.pikist.com/]