SpaceX is negotiating a public offering that would value it at about $350 billion, people familiar with the matter told Bloomberg. In this case, Elon Musk’s space company will become the most valuable startup in the world, surpassing the Chinese ByteDance (owner of TikTok), which is now valued at about $300 billion.
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The agency noted that SpaceX’s current plans far exceed previous ones, when the company was going to reach a valuation of about $255 billion, in June the rocket manufacturer was valued at $210 billion.
As part of the tender, employees and some of SpaceX’s early shareholders will be able to sell their shares. Negotiations are still ongoing, the parameters of the transaction may change depending on the interests of sellers and buyers, the interlocutors clarified.
The potential increase in SpaceX’s valuation underscores the “tremendous achievements” of Musk’s business empire since the US presidential election, which billionaire Donald Trump won, Bloomberg notes. According to his words, Tesla shares have risen 42% since November 5 and the businessman’s fortune has grown to $353 billion.
The agency added that with a valuation of $350 billion, SpaceX would be comparable to the world’s largest public companies, such as Bank of America and LVMH, which have market capitalizations of $360.9 billion and $321.2 billion, respectively.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
