Elon Musk‘s SpaceX and its investors have agreed to purchase $1.25 billion worth of insider shares, according to an internal email seen by Bloomberg. This transaction values Musk’s rocket and satellite company at a staggering $350 billion, cementing its position as the world’s most valuable private startup.
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This stock sale was done through a secondary offering, commonly known as a tender, which provides employees and early shareholders an opportunity to generate liquidity through the sale of their stock in the private space giant.
SpaceX’s Valuation Now Rivals Public Giants
This remarkable valuation showcases SpaceX’s dominance in the private sector and places its market capitalization on par with some of the largest public companies. SpaceX has become one of the space industry’s leading providers of rocket launches, handling satellites, cargo, and ferrying astronauts for NASA, the Pentagon, and commercial partners. Additionally, SpaceX’s Starlink project is rapidly expanding a global satellite network to provide internet connectivity.
Musk’s Influence Rises with Broader Business Gains
The surge in SpaceX’s valuation aligns with recent gains across Musk’s broader business empire, fueled by heightened investor interest amid Musk’s deepening ties with President-elect Donald Trump.
Musk’s ventures, including Tesla (TSLA) and SpaceX, have broadly benefited since the U.S. presidential election. Notably, TSLA shares have soared by more than 40% since November 5. As a result, Musk’s fortune has ballooned to around $384 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 12 Buys, 13 Holds, and nine Sells. The average TSLA price target of $267.79 implies a downside potential of 33.2% from current levels.
