SpaceX is preparing for a new insider share sale that could value Elon Musk’s aerospace giant at up to $800 billion, according to people familiar with the discussions. If finalized, the deal would restore SpaceX’s position as the world’s most valuable private company, surpassing the record valuation recently hit by OpenAI.
The company’s board met at its Starbase facility in Texas to review potential pricing for the upcoming tender offer. While details may still shift based on investor appetite, insiders suggest that shares may be priced above $400 each, implying a valuation between $750 billion and $800 billion. The company itself is not raising new capital, but the sale would offer liquidity to employees and early backers.
Elon Musk pushed back on reports that SpaceX is seeking new funding, noting on X that the company has been “cash flow positive for many years” and regularly performs stock buybacks. He did not, however, deny the tender offer for insider-held shares.
This would mark a dramatic jump from SpaceX’s previous valuation of $400 billion in July, when shares were priced at $212 each. Multiple outlets, including The Wall Street Journal and Financial Times, have previously reported on SpaceX’s push toward the $800 billion mark.
Market Reaction and Industry Impact
News surrounding SpaceX’s potential valuation bump triggered strong market ripple effects. Shares of EchoStar Corp. surged up to 18%, following recent agreements to sell nearly $20 billion worth of spectrum licenses to SpaceX.
SpaceX maintains a dominant lead in both commercial spaceflight and satellite internet. Its Falcon 9 rockets remain the most frequently launched orbital vehicles in the world, while Starlink’s constellation of more than 9,000 satellites outpaces every other company, including Amazon’s Project Kuiper.
IPO Buzz: The Biggest Listing in History?
SpaceX has long been part of a small circle of high-value private companies capable of raising vast sums while staying off the public markets. But discussions inside the company suggest that an initial public offering may arrive as soon as late 2026.
If SpaceX were to go public at an $800 billion valuation, it would instantly rank among the 20 largest publicly traded companies globally. Selling just 5% of the company in an IPO would mean raising $40 billion, easily eclipsing Saudi Aramco’s historic $29 billion IPO in 2019.
Still, going public would expose SpaceX to market volatility—an issue that has affected other space-sector IPOs this year, where some firms soared while others fell sharply post-debut.
What About a Starlink Spinoff?
Rumors about a Starlink IPO have circulated for years, with President Gwynne Shotwell first suggesting the idea in 2020. Musk has publicly cast doubt on the timing, and CFO Bret Johnsen stated in 2024 that any spinoff would be “years away.”
Recent reports, however, indicate that SpaceX has begun quietly preparing investors for a possible full-company IPO in the second half of next year.
Why the Tender Offer Matters
For now, the insider share sale would function as a liquidity window for SpaceX employees and early stakeholders—common practice for a company that remains wildly valuable yet privately held.
Meanwhile, SpaceX continues developing its next-generation Starship, the largest rocket ever built. Starship is central to the company’s long-term vision: launching massive batches of Starlink satellites, transporting cargo, and eventually carrying humans to the Moon and Mars.
As SpaceX expands its technological reach, an $800 billion valuation may only be the beginning.
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