SpaceX prepares tender offer for record valuation of $210 billion: report

Billionaire Elon Musk’s SpaceX is preparing to launch a takeover bid that would value the space exploration company at $210 billion, a record for a private American company.

SpaceX will sell shares to its employees and other insiders for $112, Bloomberg reported, citing people familiar with the matter.

The round will boost the satellite launch company’s valuation by $180 billion.

The projected valuation exceeded initial expectations due to strong investor interest, the report added.

The terms of the tender offer have not yet been finalized and are subject to change.

The Post has contacted SpaceX for comment.

The tender offer, if completed, would place SpaceX just behind ByteDance, TikTok’s China-based parent company, as the world’s most valuable private company.

ByteDance was valued at $268 billion last December.

SpaceX, the world’s largest satellite company, operates Starlink, the high-speed internet service suitable for rural and remote areas.

The company had about 5,000 satellites in orbit at the end of last year.

Musk’s company is also a NASA subcontractor.

Earlier this week, NASA awarded an $843 million contract to SpaceX to develop a vehicle that will enable “the safe and responsible deorbiting of the International Space Station in a controlled manner after the end of its operational life in 2030.” .

Musk, the world’s richest person with an estimated net worth of more than $220 billion, has repeatedly touted his plans to reach Mars with SpaceX’s massive “Starship” rocket.

In May, Musk tweeted that “SpaceX does not need additional capital and will in fact repurchase shares.”

“We do liquidity rounds for employees and investors every 6 months or so,” Musk said at the time.

Besides SpaceX, Musk is also CEO of electric car maker Tesla, social media platform X and AI company Grok.

Grok recently raised $6 billion from investors in a bid to rival Microsoft-backed OpenAI in the race to develop advanced artificial intelligence models.