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Elon Musk’s SpaceX is eyeing a tender offer that would value the aerospace company at $350 billion
Bloomberg, citing unnamed sources familiar with the discussions, reports that discussions are still ongoing and things could change. But such a valuation would mark a roughly $100 billion jump from a potential valuation reported last month. It also represents massive increase from SpaceX’s $210 billion valuation in a tender offer earlier this year.
This would make SpaceX, which is currently the most valuable private company in the U.S., the biggest startup in the world, surpassing Bytedance, the company behind TikTok.
SpaceX has benefitted from Musk’s cozy relationship with President-elect Donald Trump. Trump joined Musk in Brownsville, Texas last month to watch the sixth test launch of a SpaceX Starship spacecraft.
Musk, the billionaire Tesla (TSLA-3.66%) CEO, and entrepreneur Vivek Ramaswamy have also been tapped by the incoming administration to lead the so-called “Department of Government Efficiency” (DOGE) — a non-government task force Musk pitched months ago.
Musk’s other companies, including X (formerly Twitter) and Tesla, have also gotten a boost. Shares of Tesla have risen 47% since Nov. 4, the day before the election. They closed out trading Monday at $357.09 each.
Already the world’s richest person, Musk’s net worth has ballooned $91 billion in that same timeframe, bringing his total wealth to $353 billion, according to the Bloomberg Billionaire Index. Much of Musk’s wealth is tied to his holdings of Tesla stock.
On Monday, a Delaware judge once again rejected Musk’s $56 billion pay package, after a motion to revise it was denied. Judge Kathaleen McCormick previously described the package as “deeply flawed,” emphasizing that it was improperly structured and failed to meet legal standards for executive compensation.
The decision also granted $345 million in attorney fees to the lawyers representing Tesla shareholders who successfully challenged Musk’s pay plan. The court deemed this amount an “appropriate sum to reward a total victory.”
— William Gavin and Francisco Velasquez contributed to this article.