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Musk's SpaceX approaches investors for another tender offer - Bloomberg News

December 06, 2023 at 06:32 pm

(Reuters) - Elon Musk's SpaceX has approached investors about another tender offer that would value the company at above $175 billion, a Bloomberg News reporter said in a post on X.

Tender volume could go up as it is not finalised that could value the firm even higher, the post added.

SpaceX's current valuation of about $150 billion makes it one of the most valuable private companies in the world.

Billionaire investor Ron Baron, who according to CNBC owns more than $1 billion worth of shares in the rocket company, last month said that SpaceX will be worth about $500 billion by 2030.

SpaceX did not immediately respond to a Reuters request for comment.

Musk in November had said that Starlink, SpaceX's satellite internet unit, had achieved cash flow breakeven. Starlink is the world's largest satellite company and boasts a network of about 5,000 low-Earth orbit satellites.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju Samuel)

Elon Musk

Mr. Elon R. Musk is a Chief Executive Officer at The Boring Co., a Technoking of Tesla at Tesla, Inc., a Chief Executive Officer & Director at Space Exploration Technologies Corp., a Chief Executive & Technology Officer at Spacex SA and a Co-Chairman at OpenAir, Inc. He is on the Board of Directors at Tesla, Inc., Space Exploration Technologies Corp., Endeavor Group Holdings, Inc. and Musk Foundation. Mr. Musk was previously employed as a Trustee by California Institute of Technology, a Chairman by SolarCity Corp., a Chairman & Chief Executive Officer by PayPal, Inc., a Founder by Zip2 Corp., a Co-Founder by Neuralink Corp., a Co-Founder by OpenAI, Inc., a Non-Executive Director by Surrey Satellite Technology Ltd., and a Trustee by X PRIZE Foundation. He also served on the board at Everdream Corp. He received his undergraduate degree from the University of Pennsylvania and an undergraduate degree from The Wharton School of the University of Pennsylvania.

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TESLA, INC.	Founder
Space Exploration Technologies Corp. Space Exploration Technologies Corp. Aerospace & DefenseElectronic Technology Space Exploration Technologies Corp. designs, manufactures and launches rockets and spacecrafts. It develops the partially reusable launch vehicles Falcon 1 and Falcon 9. The company was founded by Elon Reeve Musk in 2002 and is headquartered in Hawthorne, CA.	Chief Executive Officer