AdvertisementSKIP ADVERTISEMENTYou have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.A sale of insider shares at $421 a share would make Mr. Musk’s rocket company the most valuable private company in the world, as it readies for a possible initial public offering next year.The SpaceX launchpad in South Texas in June 2024. The company said in a letter to employees on Friday that it could go public in 2026.Credit...Meridith Kohut for The New York TimesDec. 12, 2025SpaceX, the rocket and satellite maker run by Elon Musk, told employees on Friday that it would buy insider shares in a deal that would value it at around $800 billion, and said that it was preparing for a potential initial public offering next year.In a letter to employees, Bret Johnsen, SpaceX’s chief financial officer, said the company planned to buy $2.56 billion of shares from stockholders at $421 a share, nearly double its previous internal share price. Mr. Johnsen also alluded to a possible public offering in the letter, which was obtained by The New York Times.“Whether it actually happens, when it happens, and at what valuation are still highly uncertain, but the thinking is that if we execute brilliantly and the markets cooperate, a public offering could raise a significant amount of capital,” he wrote.The offer to buy shares from employees would make SpaceX the world’s most valuable private company, outstripping the A.I. company OpenAI, which is currently valued at around $500 billion. If and when SpaceX goes public, it would likely be one of the largest ever public listings, and an enormous wealth creation event for shareholders.SpaceX did not immediately return a request for comment.Mr. Musk founded SpaceX in 2002 and has built it into one of the world’s most influential companies, dominating the space industry with its rockets and its Starlink satellite internet service. It has been a jewel of his business empire and a source of his wealth and power, along with his electric vehicle company, Tesla. SpaceX also works closely with the Pentagon, NASA and other agencies, giving it a vital role in national security.Mr. Musk, who left his role as a close adviser to President Trump in late May, has ambitions of using a mammoth SpaceX rocket called Starship to ferry humans to Mars. He also has a multibillion-dollar agreement with NASA to send a crewed mission to the moon, and has referred to a proposed base on the moon as Moonbase Alpha. But SpaceX’s plan for the moon appears to have fallen behind schedule.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe.AdvertisementSKIP ADVERTISEMENT
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Elon Musk’s SpaceX Valued at $800 Billion, as It Prepares to Go Public
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