SpaceX employees plan to sell some of their existing shares through a private placement that would value Elon Musk’s aerospace company at $125 billion.
According to sources familiar with the plans, Bloomberg reports that the shares will be offered at $70 each. That’s above the $56 valuation used in the last stock sale in October 2021 that raised $337 million and valued SpaceX at around $100 billion.
It’s unclear at this time how many shares are on offer as part of the employee offering and whether any of the shares will come from Musk himself.
The SpaceX CEO attempted to secure additional funding for his takeover of Twitter with the help of additional investors, and has so far been able to rack up more than $7 billion and reduce his personal commitment to the deal.
Whether the deal still materializes is up in the air after Musk questioned the number of fake or spam accounts on the social media platform and was unhappy with the explanation provided by the CEO Parag Agrawal, who supports their initial estimate that less than 5% of daily active users are fake.
SpaceX updates Starlink’s availability map to show when the service will be available in your area