SpaceX CEO Elon Musk has denied reports that the company is seeking a US$800 billion (A$1.21 trillion) valuation ahead of a potential initial public offering in 2026.
The Wall Street Journal reported that SpaceX had begun a secondary share sale that would value the company at $800 million. This would be double its reported $400 billion valuation in July, during a previous share sale.
“There has been a lot of press claiming SpaceX is raising money at $800B, which is not accurate. SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” wrote Musk, who is also the CEO of Tesla, X, and xAI.
Musk credited the growth in valuation to SpaceX’s reusable rockets and satellite internet offerings. “Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market.”
An $800 billion valuation would make SpaceX the world’s most valuable privately held company. OpenAI set the previous record in October with a $500 billion valuation.
SpaceX has also told investors that it is targeting an IPO in the second half of 2026, The Information reported.
The IPO would list all of the company’s projects, including Starlink. SpaceX had first suggested in 2020 that it could spin off Starlink into a separate publicly traded company, though Musk has since downplayed the possibility.
Musk said that NASA contracts would represent less than 5% of Space’s revenue this year. He claimed in June that SpaceX’s revenue would be around $15.5 billion across 2025.
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