SpaceX owner and Tesla CEO Elon Musk at the Axel Springer Awards on December 1, 2020 in Berlin. Hannibal Hanschke – Getty Images
Elon Musk’s Company X may be on a roll, but another billionaire-owned company is on track to reach dizzying heights. Musk is in talks to sell between $500 million and $750 million of SpaceX stock worth $175 billion or more, Bloomberg reports. mentioned Wednesday, citing unnamed sources. These numbers mean that the private space giant, which has not yet announced plans to go public, has a higher value than any initial public offering in the history of the United States, as it has exceeded the value of Alibaba’s initial public offering of $ 169 billion since 2014.
It also represents SpaceX’s latest private market valuation A significant increase More than the $150 billion valuation the company enjoyed in July, when new and existing investors bought $750 million worth of shares. It would make SpaceX more valuable than US giants such as Disney, which has a market value of $170 billion, and Comcast, which is worth just over $171 billion.
This is in stark contrast to another Musk property, X — formerly Twitter — which has declined in value since Musk acquired it a year ago. Insiders reported that X employees were offered shares worth $19 billion in October, while other calculations suggest X could be worth as much as $4 billion.
The terms and size of SpaceX’s tender offer could change. SpaceX did not immediately respond luck’Request for comment on the latest private market assessment.
Elon Musk’s SpaceX company is expected to generate revenue of $9 billion in 2023, rising to nearly $15 billion next year, Bloomberg reports. mentioned Last month. The company has developed a dominant position in the space transportation market, where it has implemented 64% From launching commercial rockets to sending satellites, scientific instruments, and other payloads into orbit around the world in the first six months of this year.
Musk has assembled a large roster of industrial talent at SpaceX while trying to gain market share in both the space transportation and satellite markets, including former NASA lead engineers and Apple product designers. Starlink, SpaceX’s satellite company that hopes to provide internet coverage in 60 countries, with a focus on hard-to-reach areas, saw its revenues rise from $222 million in 2021 to $1.4 billion last year. Wall Street Journal mentioned in September.
Great performance led to Rumors Last month, SpaceX and Starlink’s IPO could be spun off in late 2024. But Musk described these reports as “bloomerBillionaire Ron Barron, an investor in Tesla and SpaceX, said he did not expect Starlink Overview Until 2027.
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