Elon Musk‘s SpaceX is reportedly in discussions to sell insider shares, a move that could boost the space and satellite company’s valuation to a staggering $350 billion, according to an exclusive Bloomberg report. This would mark a significant leap from its $255 billion valuation reported by Bloomberg News just a month ago.
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If SpaceX proceeds with the sale of insider shares, it would become the world’s most valuable private startup.
Earlier this year, SpaceX was valued at around $210 billion during a tender offer, and the report stated that discussions are ongoing. The transaction details will depend on the level of interest from potential buyers and insider sellers.
SpaceX’s Offering May Boost Liquidity for Early Shareholders
This secondary offering, commonly known as a tender, provides employees and early shareholders an opportunity to generate liquidity through the sale of their stock in the private space giant.
Musk’s ventures, including Tesla (TSLA) and SpaceX, have benefitted broadly since the U.S. presidential election. In fact, TSLA shares have soared by 42% since November 5. Consequently, Musk’s fortune has ballooned to around $353 billion, according to the Bloomberg Billionaires Index.
What Is the Target Price for TSLA?
Analysts remain sidelined about TSLA stock, with a Hold consensus rating based on 11 Buys, 14 Holds, and nine Sells. The average TSLA price target of $233.67 implies a downside potential of 34.6% from current levels.
