SpaceX Moves Toward a Historic IPO as Valuation Talks Reach an Unprecedented $800 Billion
Elon Musk’s SpaceX is once again reshaping the global financial and aerospace landscape as it explores a valuation that could reach as high as $800 billion, according to people familiar with the ongoing discussions. The company is preparing a new tender offer that would allow insiders to sell shares—an offering that could set SpaceX apart as the most valuable privately held company in the world, surpassing even OpenAI’s record-setting $500 billion valuation earlier this year.
The potential valuation boost places renewed attention on long-standing speculation about a SpaceX IPO as soon as late 2025 or early 2026, marking what could become one of the largest and most consequential listings in modern financial history.
Inside SpaceX’s Tender Offer as Share Price Surges Past $400 Apiece
Sources indicate that SpaceX’s board discussed the tender offer at a meeting held at the company’s Starbase facility in Texas. The proposed share price—estimated to exceed $400 per share—would imply a valuation between $750 billion and $800 billion, significantly higher than its July valuation of $400 billion, when shares were priced at $212.
If finalised, the tender offer will provide early investors and employees an opportunity to generate liquidity while giving new investors access to one of the most dominant players in the space and satellite communications industry.
Reports from The Wall Street Journal and Financial Times have also highlighted the possibility of the firm reaching an $800 billion valuation, underscoring growing institutional interest.
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A Potential SpaceX IPO Could Reshape Global Markets and Break Historic Records
A SpaceX IPO at an $800 billion valuation would place the aerospace company among the 20 largest publicly traded companies in the world, sitting only a few notches below another Musk-owned giant, Tesla.
If SpaceX chose to sell just 5% of its equity, the IPO would raise around $40 billion, surpassing Saudi Aramco’s record-breaking $29 billion IPO in 2019. Such an offering would immediately become the largest public market debut in history.
However, with the prestige of a public listing comes exposure to market volatility—a risk private companies like SpaceX typically avoid. Recent space and defense IPOs have delivered mixed performance, with some seeing sharp declines post-listing.
SpaceX Strengthens Its Position Through Dominance in Launch and Satellite Communications
SpaceX’s valuation surge is built on undeniable industry leadership. The company continues to be the world’s most prolific rocket launcher, powered by its reusable Falcon 9 rocket system, which has revolutionised orbital transport for both satellites and crewed missions.
Additionally, its Starlink satellite internet network, now comprising more than 9,000 low-Earth orbit satellites, has expanded rapidly and remains far ahead of competitors such as Amazon’s Project Kuiper. This extensive satellite infrastructure not only generates growing subscription revenue but also enhances SpaceX’s strategic value in global communications and defense.
Investor enthusiasm was evident in the response from EchoStar Corp., whose shares spiked up to 18% on news of SpaceX’s escalating valuation. EchoStar recently agreed to sell spectrum licenses worth $2.6 billion to SpaceX, adding to a previous $17 billion agreement related to wireless spectrum.
Speculation Resurfaces About a Potential Starlink Spin-Off, Though Uncertainty Remains
Talk of a Starlink IPO has circulated for years, gaining traction when SpaceX President Gwynne Shotwell hinted at a potential spin-off in 2020. But Elon Musk has repeatedly downplayed the idea, and in 2024, SpaceX CFO Bret Johnsen suggested that any Starlink listing was still “years away.”
However, recent reports from The Information claim that SpaceX has informed investors that it is targeting an IPO of the entire company in the second half of next year—a development that, if true, would dramatically shift the timeline long assumed by analysts.
A Tender Offer Could Provide Crucial Liquidity Before the IPO Push
For employees and early investors, the tender offer serves as an essential mechanism for pre-IPO liquidity. As SpaceX has grown exponentially over the years—while staying private—it has become increasingly important for stakeholders to have a structured way to monetise their holdings.
Such tender processes are common among high-value private firms, allowing them to remain privately controlled while still providing returns to long-term participants.
SpaceX Accelerates Toward a New Era With Starship and Future Human Missions
Beyond financial milestones, SpaceX continues to advance its technological frontier. The company’s Starship mega-rocket, touted as the most powerful rocket ever developed, is designed to transport vast quantities of Starlink satellites and eventually ferry cargo and humans to the Moon and Mars.
The progress of Starship—combined with an expanding Starlink footprint and unmatched launch capability—continues to underpin the company’s extraordinary valuation trajectory.
SpaceX’s Record Valuation Signals Investor Confidence as IPO Anticipation Builds
As SpaceX edges closer to an unprecedented valuation of up to $800 billion, anticipation of a potential IPO in 2025–2026 continues to intensify. With rapid advancements in launch technology, deepening Starlink adoption, and growing strategic partnerships, the company is positioned for what could become the largest public listing in market history.
