Private company SpaceX is a leader when it comes to rocket launches and satellites, pointing the way for the space sector.
With a new tender offer, the private company is one of the most valuable private companies and worth more than many companies you know and love.
What Happened: SpaceX is being valued at $180 billion in a tender offer, surpassing the $175 billion estimates recently reported.
The company is now valued at $97 per share in the secondary sale from insiders, according to a report from Bloomberg.
SpaceX's new valuation tops the $150 billion the company was previously worth. At its new valuation of $180 billion, SpaceX would be the second most valuable private company according to data from CBInsights, trailing only TikTok owner ByteDance ($225 billion).
Bloomberg reported SpaceX's rocket launches and Starlink will post revenue of $9 billion in 2023 and are estimated to hit $15 billion by 2024.
The new valuation for SpaceX makes the private company worth more than other space and defense companies that are publicly traded. This includes Boeing Co
Based on a market capitalization of $180 billion, SpaceX would be the 64th most valuable public company in the world, based on data from CompaniesbyMarketCap, if the company were publicly traded.
This new valuation also puts SpaceX ahead of (or tied with) these well-known companies:
64. Comcast
67. Disney
75. Verizon
80. Morgan Stanley
82. International Business Machines
86. Pfizer Inc
88. Caterpillar
94. United Parcel Services
100. General Electric
What's Next: SpaceX has been a rumored IPO candidate given its size and valuation and rumors of the company's Starlink unit going public have also been floated around for years.
SpaceX owner Elon Musk previously said the company would have to hit certain milestones before the company would go public, which have been met. Musk also previously said retail traders would get first access to shares if the company does go public in the future.
Investors in SpaceX include Alphabet Inc
