SpaceX is poised to sell insider shares in a move that could push its valuation to as high as $800 billion, potentially reclaiming the status of the world's most valuable private company. The details were discussed by SpaceX’s board at its Starbase facility in Texas, but may shift depending on how much interest exists from insiders looking to sell and from buyers. There’s also talk of a possible initial public offering (IPO) as soon as next year.
One source noted that the asking price for the shares being offered to employees and early investors could exceed $400 per share, which would place SpaceX in the $750–$800 billion range. Importantly, the sale would not raise new capital for the company, though a successful offering at these valuations could surpass OpenAI’s prior private-market high of $500 billion. Elon Musk claimed SpaceX has not announced money-raising at an $800 billion valuation, insisting the company has been cash-flow positive for years and conducts periodic stock buybacks to provide liquidity for staff and investors.
The reported valuation would mark a significant jump from the $212 per share price set in July during a round that valued SpaceX at about $400 billion. Earlier reports from The Wall Street Journal and the Financial Times had cited the $800 billion target.
News of SpaceX’s valuation sparked a rally in EchoStar Corp.’s shares, which rose as much as 18%. EchoStar had recently agreed to sell SpaceX spectrum licenses for $2.6 billion, following a prior deal to sell roughly $17 billion in wireless spectrum to Musk’s company.
SpaceX, which dominates the launch market with its Falcon 9 rocket and leads in satellite internet with Starlink (a constellation of more than 9,000 satellites), continues to expand its role in space infrastructure. The company has positioned itself among a select group capable of sustaining $100 billion-plus valuations without committing to an imminent public listing.
If SpaceX were to sell 5% of the company at an $800 billion valuation, it would raise $40 billion—an amount large enough to rank among the biggest IPOs of all time, eclipsing Saudi Aramco’s $29 billion offering in 2019. Historically, the private valuation of a company and the public trading environment introduce different dynamics, including volatility and market scrutiny once a company goes public.
A public listing would subject SpaceX to broader market fluctuations, and the reception of space and defense IPOs in 2025 has been mixed. Notably, there has been talk of spinning off Starlink into a separate public entity, a concept originally proposed by SpaceX’s Chief Operating Officer Gwynne Shotwell in 2020, though Musk has publicly questioned the idea, and CFO Bret Johnsen indicated that a Starlink IPO is more likely in the coming years.
Market observers note that SpaceX remains active in advancing its Starship program, touted as the most powerful rocket ever developed, designed to deploy large numbers of Starlink satellites and to support cargo, crewed missions, and eventual endeavors to the Moon and Mars. Independent sources have reported ongoing discussions about IPO timing and strategic steps, including potential full-company listings in the second half of next year.
Would you support a SpaceX IPO at an $800 billion valuation, or do you think the company should remain private to preserve volatility-free growth and long-term strategy? Share your thoughts in the comments.
