SpaceX heads to $400 billion valuation in upcoming share sale, worth more than Bank of America, Home Depot
SpaceX is discussing plans to sell ~$1 billion worth of employee shares in a deal that would value Elon Musk’s rocket and satellite company at ~$400 billion, per Bloomberg.
The transaction would underscore SpaceX’s position as the most valuable private company in the US, surpassing OpenAI’s $300 billion valuation earlier this year and rival TikTok owner ByteDance’s more than $400 billion valuation, which was reported in February.
Such a price tag would also make SpaceX the crown jewel of the world’s richest man’s list of assets. Indeed, while many of us think of Elon Musk as “rich because of Tesla,” increasingly the more accurate statement would be that he’s “rich because of SpaceX.”
Tesla’s shares are down ~26% since the start of the year, ensuring that the EV maker no longer contributes the overwhelming majority of his wealth. Musk owns ~13% of Tesla, but a whopping 42% of the space company per its 2022 FCC filling, which would be worth ~$168 billion at the reported valuation.
Such a price tag would also make SpaceX the crown jewel of the world’s richest man’s list of assets. Indeed, while many of us think of Elon Musk as “rich because of Tesla,” increasingly the more accurate statement would be that he’s “rich because of SpaceX.”
Tesla’s shares are down ~26% since the start of the year, ensuring that the EV maker no longer contributes the overwhelming majority of his wealth. Musk owns ~13% of Tesla, but a whopping 42% of the space company per its 2022 FCC filling, which would be worth ~$168 billion at the reported valuation.
