SpaceX Ready to Offer Record $210B Valuation in Major Tender Offer
Money | June 27, 2024, 12:44 p.m.
Billionaire Elon Musk's SpaceX is preparing to launch a tender offer that could value the space exploration company at an astonishing $210 billion, setting a new record for a privately held US firm. The offer will allow employees and insiders to purchase shares at $112 each, an increase from the previous valuation of $180 billion. The strong investor interest has driven the projected valuation higher than expected. SpaceX, known for operating the world's largest satellite network with its Starlink service, has established itself as a key player in the industry. Musk, the world's wealthiest person, continues to push the boundaries of space exploration with ambitious plans for SpaceX, including reaching Mars with the "Starship" rocket. Despite his focus on SpaceX, Musk also heads companies like Tesla, X, and Grok, highlighting his diverse interests in technology and innovation.