Elon Musk's SpaceX on track to join the world's top 75 companies

A SpaceX Falcon 9 rocket lifts off from Cape Canaveral Space Force Station
A SpaceX Falcon 9 rocket lifts off from Cape Canaveral Space Force Station Copyright Craig Bailey/Copyright 2023 The AP. All rights reserved
By Greta Ruffino
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The value of Elon Musk's space exploration company, SpaceX, has increased significantly. Euronews Business takes a closer look.

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Elon Musk's space exploration company, SpaceX, reportedly plans to sell insider shares at a valuation of $175 billion (€163 billion).

Discussions are ongoing for a tender offer valued between €465 million and €700 million, with a potential share price of around €88 each.

The specifics of the tender offer are yet to be finalised, contingent upon the interest of both sellers and potential buyers within SpaceX.

The surge in valuation represents a substantial increase from SpaceX's earlier valuation of €140 billion during a tender offer earlier this summer. 

If this materialises, the company would join the ranks of the world’s top 75 companies by market capitalisation, alongside industry leaders like T-Mobile USA Inc. (€166 billion), Nike Inc. (€164 billion), and China Mobile (€163 billion).

The origins of SpaceX and its future steps

Based in California, SpaceX designs, manufactures, and launches rockets and spacecraft.

Founded in 2002 by Tesla's chief executive officer, Elon Musk, it has secured multiple agreements with NASA to send spacecraft to the International Space Station.

Recent updates suggest that SpaceX is poised for promising growth, with an estimated revenue of approximately €8 billion for this year. This revenue stems from its rocket launches and Starlink ventures.

Forecasts anticipate a substantial increase in sales to around €14 billion by 2024, signaling a trajectory of significant growth.

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