SpaceX, Elon Musk’s space company, is set to be valued at 800 billion. The New York Times writes it. An insider stock sale at $421 a share would make SpaceX the world’s most valuable private company, surpassing artificial intelligence company OpenAI, currently valued at about $500 billion. The rocket and satellite company told employees Friday that it would buy internal shares in a deal that would value it at around $800 billion, and said it was preparing for a potential initial public offering next year.
In a letter to employees, Bret Johnsen, SpaceX’s chief financial officer, said the company plans to buy $2.56 billion in stock from shareholders at $421 per share, nearly double the previous internal stock price. In the letter, obtained by The New York Times, Mr. Johnsen also hinted at a possible public offering. “Whether it will actually happen, when it will happen and at what valuation are still highly uncertain, but the thinking is that, if we execute brilliantly and the markets cooperate, a public offering could raise a significant sum of capital,” he wrote.