SpaceX is reportedly in talks over a new secondary share sale that could raise its valuation to nearly $800bn. The proposal was discussed by the company’s board of directors during a meeting at its Starbase facility in Texas, though final details will depend on the level of interest from both insider sellers and potential buyers, according to a report by the Wall Street Journal.
According to individuals briefed on the matter, the share price under consideration exceeds $400 per share, which would place the company’s valuation between $750bn and $800bn. The figure marks a sharp increase from July’s tender offer, when shares were sold at $212 each, valuing SpaceX at $400bn. The potential surge reflects the company’s continued dominance in the launch market and the expanding low-Earth orbit communications sector.
People familiar with the sale said SpaceX is preparing to offer insider shares at a valuation surpassing OpenAI’s record-setting $500bn peak. If confirmed, the deal would secure SpaceX’s position at the top of the private-market rankings. Reports also suggest that the company has informed investors and financial institutions that it is targeting a public offering as early as the second half of next year, though the timeline remains fluid. Some sources indicated that an IPO could take place as soon as late next year, while others cautioned that the plan may shift based on market conditions and levels of investor interest.
An IPO valuing SpaceX at $800bn would carry major implications for global markets. Selling just 5% of its shares at that valuation could raise around $40bn, surpassing the $29bn generated by Saudi Aramco’s landmark 2019 listing. Both The Wall Street Journal and the Financial Times have reported similar valuation estimates, noting that such a figure would place SpaceX among the world’s 20 largest public companies by market capitalisation.
SpaceX’s rapid business expansion is driven by the success of its Falcon 9 rocket programme and the explosive growth of Starlink, which now operates more than 9,000 satellites—maintaining a significant lead over rivals in the fast-growing satellite internet market. The company’s momentum has been further boosted by recent spectrum deals, including EchoStar’s $2.6bn sale of licences to SpaceX, part of nearly $17bn in wireless spectrum transactions benefitting Elon Musk’s firm. EchoStar shares rose as much as 18% following news of SpaceX’s rising valuation.
Amid speculation about a potential Starlink spinoff, SpaceX leadership continues to temper expectations. Chief Financial Officer Bret Johnsen recently said a Starlink IPO is more likely “in the years to come,” while executives, including President Gwynne Shotwell, have previously entertained—but not committed to—the possibility. For now, the company remains focused on advancing development of its Starship rocket, touted as the most powerful launch vehicle ever built.
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