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SpaceX is in talks with investors about a share sale which would value Elon Musk’s rocket maker at $800bn, leapfrogging Sam Altman’s OpenAI to become the most valuable start-up in the world.
The Starlink owner had communicated with investors in recent days to gauge interest in a share sale at double the company’s current valuation of $400bn, according to two people with knowledge of the matter.
SpaceX has held secondary share sales roughly every six months in recent years, in which existing investors and employees can sell their stakes. The deals are a way to give backers of the 23-year-old private company a chance to realise the gains on their stock holdings.
A valuation of $800bn would see SpaceX regain its position as the most valuable private tech company in the world, overtaking OpenAI, which was recently valued at $500bn.
Musk’s company has been the leading developer of commercial rockets for space exploration, and owns the Starlink satellite internet service.
The new target price marks a further dramatic acceleration after the group’s valuation doubled between the middle of last year and this July. Investors in these deals are betting that Musk’s technical edge and ties to President Donald Trump will increase his advantage over its rivals.
The new target valuation was first reported by The Wall Street Journal.
