Elon Musk’s SpaceX has achieved a staggering $180 billion valuation, revealed during an ongoing secondary share sale, as confirmed by CNBC on Wednesday.
Sources familiar with the discussions disclosed that the aerospace giant is currently in talks with investors regarding a purchase offer involving stock sales from insiders, pegged at $97 per share. This particular offer does not aim at raising new capital; rather, it focuses on facilitating a secondary sale of existing shares and is expected to conclude in January.
Elon Musk’s SpaceX traditionally conducts such secondary rounds approximately twice a year, enabling employees and other shareholders to sell their stock. This recent valuation marks a notable 20% surge from SpaceX’s prior high valuation of $150 billion achieved in a July secondary sale at $81 per share.
Renowned for its Falcon rockets, SpaceX has established a near-monopoly in the U.S. satellite launch market, capitalizing on its operational superiority while competitors face challenges in launching competitive rockets.
The company’s Starlink satellite internet service stands out as a pivotal economic driver, having launched over 5,000 satellites to date and attracting a subscriber base of more than two million users. Additionally, ongoing advancements in the colossal Starship vehicle signify a groundbreaking effort to develop an unparalleled reusable rocket with remarkable scale and capability.
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The soaring valuation places SpaceX among the elite echelons of the corporate world, classifying it as a “centicorn” or “hectocorn” – a unicorn company valued at $1 billion, multiplied a hundredfold.
Intriguingly, SpaceX’s latest valuation surpasses the market capitalization of leading U.S. defense contractors such as Boeing (approximately $150 billion), Lockheed Martin (about $112 billion), and Northrop Grumman (about $73 billion). Moreover, it outpaces the valuations of major U.S. telecommunications giants like Verizon (about $154 billion) and AT&T (approximately $115.9 billion), according to FactSet data released on Wednesday.
Despite CNBC’s request for comment on the sale process, the company has yet to respond. Bloomberg initially reported SpaceX’s pricing of $97 per share.
This significant valuation milestone underscores SpaceX’s ascendancy as a pioneering force in the aerospace industry, solidifying its position as a groundbreaking innovator and a heavyweight contender in the global market.
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