Business

SpaceX Gears Up for $175 Billion Valuation Milestone in Latest Share Sale Talks

Tesla and SpaceX CEO Elon Musk.Tesla and SpaceX CEO Elon Musk. - Sputnik International, 1920, 08.12.2023

Chimauchem Nwosu A potential increase in valuation may propel Elon Musk’s SpaceX into the hundred-billion-dollar company club, with a prospective share sale worth $500 to $750 million.SpaceX is discussing selling internal shares, potentially valuing the company at over $175 billion, according to an insider report. The valuation would elevate SpaceX to the status of the most valuable startup in the US.Discussions about a potential share sale are ongoing, with projections suggesting a value between $500 million and $750 million. Share pricing is speculated to be around $95 each, per sources who pleaded anonymity. However, these figures may adjust depending on the interest levels of both the sellers and prospective buyers.The expected valuation marks a substantial leap from the $150 billion SpaceX reached earlier in the year, catapulting the company into a league with major corporations like T-Mobile USA ($179 billion), Nike ($177 billion), and China Mobile ($176 billion) regarding market capitalization. The comparison highlights SpaceX’s remarkable growth and emerging prominence in the global corporate landscape.Visitors look on as SpaceX's Starship, the world's biggest and most powerful rocket, stands ready for a scheduled launch from Starbase in Boca Chica, Texas, Wednesday, April 19, 2023. - Sputnik International, 1920, 20.04.2023SpaceX Launches Starship For First Orbital Flight20 April, 13:00 GMTSpaceX has established itself as a frontrunner in the commercial space launch sector with its Falcon rockets. The company provides launch services for a diverse clientele, including private companies, as well as NASA and various other government entities.Additionally, SpaceX is making strides in internet services through its Starlink venture, which relies on a network of satellites in low-Earth orbit.Financial forecasts for SpaceX are optimistic, with expected revenues nearing $9 billion this year, primarily from its rocket launches and Starlink operations.The revenues are projected to increase to about $15 billion by 2024. Furthermore, SpaceX is exploring a public offering for Starlink, potentially set for late 2024, aiming to capitalize on the increasing demand for space-based communication solutions.

Source

Related Articles

Leave a Reply

Your email address will not be published.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

Back to top button