Musk’s SpaceX discusses record valuation, IPO as soon as 2026

The company’s latest tender offer could value SpaceX at up to $800 billion, said the people, who asked to remain anonymous because the information is not public. SpaceX could seek an IPO late next year, one of the people said.

The details, which SpaceX’s board discussed Thursday at its Starbase hub in Texas, could change based on interest from insider sellers and buyers or other factors, some of the people said.

Another person familiar with the matter said the stock price being discussed is above $400 per share, which would value SpaceX at between $750 billion and $800 billion, though details could change.

If confirmed, it would once again make SpaceX the most valuable company in the world, surpassing the previous record of $500 billion set by ChatGPT owner OpenAI in October. Play video

The latter number would be a significant increase from $212 per share Set in Julywhen the company raised money and sold shares worth $400 billion.

A SpaceX representative did not respond to a request for comment. The Wall Street Journal and Financial Times, citing unnamed people familiar with the matter, previously reported that the deal would value SpaceX at $800 billion.

News of SpaceX’s valuation sent shares up Ecostar Corp., a satellite and wireless television company, increased by 18%. Last month, EchoStar had I agreed to sell Spectrum licenses to SpaceX for $2.6 billion, in addition to a previous agreement to sell about $17 billion of wireless spectrum to Musk.

SpaceX, the world’s most prolific rocket launcher, dominates the space industry with its Falcon 9 rocket that carries satellites and people into orbit.

SpaceX is also the leader in providing Internet services from low Earth orbit through Starlink, a system of more than 9,000 satellites that is far ahead of… Competitors Included Amazon.com Inc. Amazon Leo.

Elite group

SpaceX is among an elite group of companies that have the potential to raise money at valuations in excess of $100 billion while delaying or denying that it has any plan to go public.

The company’s $800 billion IPO would put SpaceX in another rare group — the 20 largest public companies, a few notches below Musk’s group. Tesla a company.

If SpaceX sold 5% of the company at that valuation, it would have to sell $40 billion worth of stock — making it the largest IPO ever, well above Saudi Aramco’s $29 billion listing in 2019. Sold Only 1.5% of the company is in this offering, a much smaller slice than what the majority of publicly traded companies provide.

A listing would also subject SpaceX to the vagaries of being a public company, versus private companies whose valuations are closely guarded secrets. IPOs of aerospace and defense companies received a mixed reception in 2025. Shares of Karman Holdings Inc. more than doubled. Nearly three times since its debut, while shares of Firefly Aerospace Inc. and Voyager Technologies Inc. by double percentages since their first appearance.

SpaceX executives have I asked again and again The idea of ​​spinning off SpaceX’s Starlink business into a separate, publicly traded company is a concept first proposed by President Gwen Shotwell in 2020.

However, Musk has publicly questioned this possibility over the years, and CFO Brett Johnsen said in 2024 that a Starlink IPO would be something It will happen Most likely “in the coming years.”

The Information, citing people familiar with the discussions, reported separately on Friday that SpaceX had told investors and representatives of financial institutions that it was aiming for an initial public offering of the entire company in the second half of next year.

The so-called secondary tender, in which employees and some early shareholders can sell shares, provides investors in closely held companies like SpaceX with a way to generate cash.

SpaceX is Work on developing Its new Starship vehicle is heralded as the most powerful rocket ever developed to lift large numbers of Starlink satellites as well as transport cargo and people to the Moon, and eventually to Mars.