SpaceX will sell shares based on a $400 billion valuation. What does that figure tell investors?

Elon Musk's rocket company SpaceX is close to a $400 billion valuation, comparable to the largest publicly traded players in the US. The rise in SpaceX's valuation shows that, unlike concerns about the future of Tesla, investors are not overly concerned about the risks to Musk's space business as a result of his public spat with Donald Trump.

Elon Musk's SpaceX is preparing to sell about $1 billion worth of shares - a deal valuing the rocket and satellite maker at $400 billion, the British Financial Times reported, citing sources. According to them, it is a tender offer, which means the sale of shares by the company's employees. The deal will record another jump in the market value of SpaceX. In mid-2024, investors valued it at $210 billion, and in December - already at $350 billion.

The $400 billion valuation puts SpaceX among the 20 largest public companies in the S&P 500 index - higher than Bank of America and Procter & Gamble. According to two FT sources, SpaceX plans to buy back some of the securities itself.

Musk's companies benefited from the businessman's rapprochement with Trump before the U.S. presidential election. But Musk and Trump publicly sparred in June, and their social media altercation crashed Tesla's stock. A new valuation of SpaceX shows that investment funds don't attach much importance to the risk of losing government contracts, much less the threat of nationalization if Trump decides to crack down on the company, accounts the FT.

SpaceX's rising valuation also reflects a broader trend: companies are delaying IPOs and raising funding in the private markets - thanks to a boom in private equity, Semafor notes. According to data from PYMNTS, cautious financial institutions began shifting their funds into the largest U.S. startups as early as last year, and those in turn have been raising so much capital in the private markets that they may not be in a rush to go public.

SpaceX shares are not traded on an exchange. Trading platform Robinhood recently launched for investors in Europe to trade cryptocurrency derivatives - tokens - on shares of U.S. exchange-traded funds (ETFs) and companies, including privately held OpenAI and SpaceX. OpenAI has already explained that these tokens do not represent a stake in the company. They are essentially "derivatives that provide indirect access to the underlying asset," notes Galaxy Research.

Во втором квартале 2025 года компания SpaceX вновь запустила больше ракет, чем любая другая в мире, передает NASASpaceFlight. The 45 Falcon rocket launches during this period accounted for 57 percent of all launches worldwide and provided more than 90 percent of all payload mass launched into space from Earth. In May 2025, SpaceX repeated the record of 16 launches in a month set in November 2024.

This article was AI-translated and verified by a human editor