Elon Musk’s Spacex Valued At $175 Billion Or More In Tender Offer

December 7, 2023

Elon Musk's Spacex Valued At $175 Billion Or More

Elon Musk’s SpaceX has initiated discussions about selling insider shares at a price that values the closely held company at $175 billion or more, according to people familiar with the matter.

– Bloomberg.

The most precious start up in the United States has been discussing a tender offer which could range somewhere between $500 million to $750 million, said a few officials who requested for their identity not to be disclosed as the matter is confidential.

“SpaceX is weighing offering shares at about $95 apiece,”

the people said.

The terms and the size of this tender offer may change based on the interests of insider buyers and sellers.

“A $175 billion valuation is a premium to the $150 billion valuation the company obtained through a tender offer this summer. The increase would make SpaceX one of the world’s 75 biggest companies by market capitalization, on par with T-Mobile USA Inc. ($179 billion), Nike Inc. ($177 billion) and China Mobile ($176 billion),”

as per Bloomberg’s compiled data.

SpaceX representatives, who are officially known as Space Exploration Technologies Corp., did not immediately respond to any request for comment.

The Hawthrone, a California based organization, dominates the market when it comes to providing space launch services with its Falcon rockets.

Space X also sends payloads to the orbit for the private sector customers, along with the National Aeronautics and Space Administration as well as other government agencies.

SpaceX also operates its internet-from-space Statlink service, which is anchored by a growing constellation of satellites in the lower Earth orbit.

SpaceX has returned on track to book a revenue of approximately $9 billion this year through its rocket launch and Starlink businesses. The projected sales are expected to rise by about $15 billion by 2024.

The company has also been having discussions about an internal public offering IPO for Starlink by the end of 2024, a bid that is to capitalize on the robust demand for communications through space.

Read More News By Clicking Below!!

upasana sarbajna

Upasana is a budding journalist who has a keen interest in writing. She considers writing as therapeutic and is most confident when she writes. She is passionate about music, movies and fashion. She writes in a way that connects with the audience in a personal level. She is optimistic, fun loving and opinionated.

Leave a comment

Your email address will not be published. Required fields are marked *