In July, SpaceX was valued at $127 billion, and now at $140 billion — due to the company’s offer to sell shares to insiders at $77 per unit, sources told Bloomberg.
The company discussed various prices in recent weeks, but ultimately settled on the $140 billion valuation in the tender offer. It is not known whether the company will raise capital in the initial round of financing at this valuation.
A representative for SpaceX, the most valuable private company in the United States, did not immediately respond to a request for comment.
SpaceX, based in Hawthorne, California, dominates the commercial space launch market. The company sends payloads into orbit for private customers, NASA and other government agencies; transports astronauts to the International Space Station; launched the first private mission for space tourists
Course
MANAGER OF WORK WITH CLIENTS
Become a sought-after specialist and receive your dream offer.
REGISTER!
SpaceX is also building an array of thousands of Starlink satellites to transmit broadband Internet coverage to Earth. Earlier, Musk stated that Starlink could be allocated to a public listing when cash flows become “more predictable”. In June 2021, Musk said the company would need to invest $20 billion to $30 billion to keep Starlink competitive.
Starlink increases subscription fees for Ukrainians from $60 to $75 per month, and equipment costs from $600 to $700
According to the Bloomberg Billionaires Index, the head of SpaceX, Elon Musk, is the richest person in the world and currently owns $168 billion. His stake in SpaceX is valued at approximately $47 billion.
However, all is not so well in the entrepreneur’s business empire. In October 2022, Musk purchased Twitter for $44 billion, the largest debt buyout of a technology company in history. To close the deal, Elon piled on the company (which had been unprofitable for eight years) with about $13 billion in debt. This means that the company makes less money per year than it owes its creditors.
Updates initiated by Musk in the social network do not yet cause too many positive emotions – neither from users nor from advertisers. The chaos caused by the launch of the Twitter Blue subscription has alienated some partners. Advertising is the company’s main source of revenue, but a number of companies, including insurer Allianz and carmaker Audi, have suspended promotion on the social network for the time being.
