SpaceX aims for $800 billion valuation in secondary share sale, WSJ reports

Elon Musk's SpaceX is set to launch a secondary share sale that could elevate the company's valuation to an impressive $800 billion, according to a report from The Wall Street Journal. This development also hints at a potential public offering, which the company is contemplating for possibly late next year. If successful, this valuation would position SpaceX above OpenAI, the creator of ChatGPT, which recently completed a share sale at a valuation of $500 billion. SpaceX's significant investments in reusable rocket technology, launch infrastructure, and satellite systems have helped it secure a leading position in the space sector, competing against emerging players like Jeff Bezos' Blue Origin. Currently, SpaceX operates the largest network of low Earth orbit satellites via its Starlink service, providing satellite internet under the same brand. Should the company decide to go public, its Starlink division would likely be included in the IPO, despite earlier considerations to spin it off as a separate entity. During Tesla's annual shareholders meeting last month, Musk shared his thoughts on the prospect of a SpaceX IPO. While he expressed his reservations about managing publicly traded companies—citing issues such as frivolous lawsuits and operational challenges—he acknowledged the possibility of finding a way for Tesla shareholders to invest in SpaceX. Musk suggested that, despite the inherent challenges, there might come a time when making SpaceX a public company could be beneficial.