SpaceX to offer Tender, business valued at $350bn
December 3, 2024
By Chris Forrester
Elon Musk’s SpaceX is going ahead with a tender offer that would value the company at around $350 billion (€330.3bn). The news, reported by Bloomberg, has not been confirmed but if accurate the $350 billion is around $95 billion more than rumoured in November.
The tender offer is a sale of insider shares and would not represent an IPO for the rocket-to-broadband company.
It would also secure SpaceX’s status as the most valuable private startup in the world. SpaceX was last valued at about $210 billion in a tender offer earlier this year.
The current conversations with SpaceX are ongoing, says Bloomberg, and the details of a potential transaction could change depending on interest from insider sellers and buyers, said the people, who asked not to be identified because they’re not authorized to speak publicly.
The so-called tender or secondary offering, through which employees and some early shareholders can sell shares, provides investors in the closely held SpaceX a way to generate liquidity amid deepening ties between Musk and President-elect Donald Trump.
The potential valuation surge underscores the enormous gains that Musk’s empire has seen since the US presidential election. Tesla’s shares are up 42 per cent since November 5th, while Musk’s own wealth has soared to about $353 billion, according to the Bloomberg Billionaires Index.
At roughly $350 billion, SpaceX would also be on par with some of the world’s largest publicly traded companies in terms of market capitalisation.