Dec 12 (Reuters) – SpaceX has authorized an internal stock sale that could value Elon Musk’s company at about $800 billion, Bloomberg News reported on Friday, as the rocket maker prepares for an initial public offering.
The company’s move toward a public listing, which could rank among the world’s largest IPOs, is driven in large part by the rapid expansion of its Starlink satellite internet business, which includes plans for direct-to-mobile services and progress on its Starship rocket program for missions to the moon and Mars.
According to Bloomberg, citing company sources, the company is issuing shares to insiders at a price of $421 per share and said it is preparing for a possible IPO in 2026.
The New York Times reported that SpaceX Chief Financial Officer Bret Johnsen said in a letter to employees that the company plans to purchase $2.56 billion worth of stock from shareholders at a price of $421 per share.
“Whether this will actually happen, when it will happen, and what the valuation will be, remains highly uncertain, but the idea is that if we execute well and the market cooperates, a public offering could raise substantial capital,” Johnson said in the letter, according to the New York Times.
SpaceX did not immediately respond to a request for comment on the two reports. Reuters could not immediately verify the reports.
Reuters and others reported on Tuesday that SpaceX plans to raise more than $25 billion in an IPO in 2026, a move that could boost the rocket maker’s valuation to more than $1 trillion.
Earlier this week, Musk also hinted at a possible SpaceX IPO in a post on the social media platform X.
The California-based company ranks as the second most valuable private startup in the world, behind ChatGPT maker OpenAI, according to Crunchbase data.
(Reporting by Gursimran Kaur in Bengaluru; Editing by Chris ‌Reese, Himani Sarkar and Christian Schmollinger)
