SpaceX's next-generation Starship spacecraft was launched aboard its powerful Super Heavy rocket for its sixth test at the company's Boca Chica launch pad in Brownsville, Texas, on November 19, 2024.
Joe Skipper | Reuters
evaluation Elon Musk CNBC confirmed on Wednesday that SpaceX made $350 billion based on a secondary stock sale.
SpaceX, as well as investors, agreed to buy shares from insiders in a $1.25 billion buyout offer at $185 per share, according to copies of the offer obtained by CNBC. The round does not include raising new capital, as the purchase offer represents a secondary sale of existing shares.
Notably, SpaceX is purchasing up to $500 million in common stock as part of the offering, in a rare share buyback that demonstrates the strength of the privately-owned company's financial position.
The company routinely holds these secondary rounds — about twice a year — to give employees and other shareholders an opportunity to sell stock. The latest valuation represents a 67% increase over SpaceX Previous high of $210 billionwhich the company achieved through a secondary stock sale in June.
SpaceX's high valuation comes as the company consolidates its dominant position in the space industry, all while Musk enjoys a cult status. Become an influential person In the next presidential administration.
The space company has a near monopoly on the satellite launch market in the United States, led by its partners The backbone of Falcon rocketsIts competitors also struggled Field operational missiles for competition.
SpaceX's Starlink satellite internet business is a major economic driver for the company, with about 7,000 satellites launched to date and the service boasting About five million subscribers.
And at the same time, brutal Spacecraft The rocket continues to advance in flight testing, representing an attempt to create a reusable next-generation rocket of unprecedented size and power.
SpaceX's latest valuation ranks the company above the market capitalization of major US defense contractors. Among the US companies listed in the S&P 500 index, SpaceX will rank among the top 25 companies in terms of market capitalization, among Johnson & Johnson and Bank of AmericaAccording to FactSet.
The company did not immediately respond to CNBC's request for comment on the sale. Bloomberg I first reported on SpaceX's stock price of $185.
Musk, responding to a social media post about selling SpaceX shares, wrote that “almost no investor wanted to sell the stock” at the new $350 billion valuation.
“SpaceX has reduced the amount of stock it buys back from employees in order to let some new investors in,” Musk said books.
