SpaceX Valuation Soars To $150B After Share Sale, Continues To Outpace Expectations

Elon Musk‘s SpaceX has reportedly achieved a staggering valuation of nearly $150 billion. 

According to CNBC, the rocket manufacturer’s valuation soared after a share sale by existing investors. 

The company has agreed to sell up to $750 million in stock from insiders at $81 a share, representing a secondary sale of existing shares, CNBC reported, citing a copy of the purchase offer sent by CFO Bret Johnsen on Thursday.

This development follows last month’s reports by Bloomberg, which indicated that SpaceX was planning to offer shares at over $80 per share, citing sources familiar with the matter.

Back in January, SpaceX was said to be raising $750 million in a funding round that valued the company at $137 billion. This indicates a remarkable 9.5% increase in the company’s total valuation since then.

During a discussion with author Ashlee Vance, Musk reaffirmed his goal of delivering 80% of Earth’s payload to orbit by the end of this year. He also shared updates on Starship, highlighting significant improvements since its first flight and expressing a 60% probability for the next flight to successfully reach orbit, contingent on the success of stage separation. Musk anticipates the second flight test to take place within six weeks.

While rumors of a potential SpaceX or Starlink IPO have been circulating for years, Musk stated in June last year that Starlink is unlikely to go public until 2025 or later.

Produced in association with Benzinga

Edited by Saba Fatima and Maham Javaid