SpaceX aims for $800B valuation in secondary share sale, WSJ reports

The Wall Street Journal reported that Elon Musk’s SpaceX has initiated a second share sale that would value the company at up to $800 billion. reported Friday.

The report also noted that SpaceX has told some investors that it will consider going public, possibly toward the end of next year.

With the increased price, Musk’s aerospace and defense contractor will be worth more than ChatGPT maker OpenAI, which completed a share sale in October at a $500 billion valuation.

SpaceX is investing heavily in reusable rockets, launch facilities and satellites, while also competing for government contracts with newer space players, including Jeff Bezos’ Blue Origin. SpaceX is far ahead and operates the world’s largest satellite network in low earth orbit through Starlink, which powers satellite internet services under the same brand name.

SpaceX’s public offering will also include the Starlink business, which the company had previously considered transferring.

Musk recently discussed whether SpaceX should go public. Tesla’sLast month’s annual shareholder meeting. Musk, the CEO of both companies, has said he dislikes running publicly traded businesses, in part because they file “fake lawsuits” and “can make it very difficult to operate effectively.”

However, Musk said during the meeting that he wanted to “try to find a way for Tesla shareholders to participate in SpaceX” and added that “maybe at some point SpaceX can become a public company despite all the negativities.”

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