Elon Musk's rocket and satellite manufacturer, SpaceX (SPAX.PVT), is proceeding with an insider share sale valued at over $800 billion, potentially creating the biggest IPO in history.
SpaceX stated in a corporate statement obtained by Bloomberg on Friday that it is getting ready for a potential 2026 IPO with the goal of raising money for a "insane flight rate" for its prototype Starship rocket, space-based artificial intelligence data centers, and a lunar outpost.
Chief Financial Officer Bret Johnsen's message to shareholders outlined the $421 per share price in its most recent secondary offering, which is over twice as high as the $212 per share set in July at a $400 billion value.
SpaceX is once again the most valuable closely held corporation in the world, surpassing the previous record of $500 billion set by ChatGPT owner OpenAI in October.
If Musk chooses to proceed with the IPO, it would be another spectacular endeavor for him, but it would depend on SpaceX completing a number of audacious and dangerous ambitions in the upcoming years.
According to a Bloomberg story earlier this week, SpaceX is proceeding with plans for an initial public offering (IPO) that would aim to raise significantly more than $30 billion in a transaction that would make it the largest listing ever.
The Musk-led business is aiming for an overall valuation of roughly $1.5 trillion, which would put SpaceX close to the market value that Saudi Aramco set at its historic 2019 IPO. Johnsen stated in the email that the company may choose not to proceed and that the timing of the IPO and the associated valuation are uncertain.
A request for comment was not answered by a spokesperson of SpaceX, formerly known as Space Exploration Technologies Corp.
Twice a year, the corporation conducts tender offers that allow shareholders, including employees, to cash in or purchase additional shares. In this instance, SpaceX has determined its fair market valuation in advance of its 2019 initial public offering.
SpaceX, the most successful rocket launcher in the world, rules the space sector with its Falcon 9 rocket, which launches people and satellites into orbit.
Additionally, SpaceX leads the industry in offering internet services from low-Earth orbit via Starlink, a network of thousands of satellites that caters to millions of users.
