SpaceX is moving forward with an insider share sale that values Elon Musk’s rocket and satellite company at about $800 billion, laying the groundwork for what could become the largest initial public offering in history, according to Bloomberg. The transaction underscores investor confidence in the privately held firm as it pursues some of the most ambitious projects in the global space industry.
In a company message seen by Bloomberg on Friday, SpaceX said it is preparing for a possible public offering in 2026, with proceeds expected to fund an aggressive expansion of its Starship rocket program, artificial intelligence data centers in space and the construction of a base on the moon. The memo, sent to shareholders by Chief Financial Officer Bret Johnsen, outlined a per-share price of $421 in the latest secondary offering, nearly double the $212 per share valuation set in July, when the company was valued at $400 billion.
The new valuation surpasses the previous record of $500 billion set by OpenAI earlier this year, making SpaceX once again the world’s most valuable closely held company, Bloomberg reported. If Musk ultimately proceeds with an IPO, the listing would mark another high-profile venture for the billionaire entrepreneur, though it would depend on SpaceX successfully executing a series of technically complex and capital-intensive plans in the years ahead.
Bloomberg previously reported that SpaceX is considering an IPO that could raise well over $30 billion, targeting a valuation of around $1.5 trillion for the entire company. Such a figure would place SpaceX close to the market value Saudi Aramco achieved during its record-breaking 2019 listing, potentially making it the biggest IPO ever.
The timing and certainty of the IPO remain unclear. Johnsen cautioned in the email that SpaceX could still decide not to proceed, reflecting the risks tied to both market conditions and the company’s ambitious growth strategy. A spokesperson for SpaceX, formally known as Space Exploration Technologies Corp., did not respond to a request for comment.
SpaceX conducts tender offers roughly twice a year, allowing employees and other shareholders to buy or sell shares. Bloomberg noted that the current insider sale effectively sets a fair market valuation that could serve as a precursor to a public listing as early as next year.
The company dominates much of the global space industry, operating the world’s most frequently launched rocket, the Falcon 9, which carries satellites and astronauts into orbit. SpaceX is also the leading provider of low-Earth orbit internet services through its Starlink constellation, a network of thousands of satellites serving millions of customers worldwide, reinforcing the scale and reach that underpin its soaring valuation.
