June 12, 2024

SpaceX has won at least one U.S. government contract worth almost $2 billion.

SpaceX has won at least one U.S. government contract worth almost $2 billion.
Photo: Joe Raedle (Getty Images)

SpaceX has reportedly entered discussions for an insider-only stock sale that could value the company at about $200 billion — although Elon Musk says otherwise.

Bloomberg News, citing unnamed sources familiar with the matter, reports that a tender offer may begin in June. SpaceX is debating offering stock at $108 to $110 per share in a tender offer, or a transaction that allows employees and some insiders — like investors — to buy and sell shares. Terms of the tender offer could change depending on interest from insiders and buyers, Bloomberg reports.

“SpaceX has no need for additional capital and will actually be buying back shares,” Musk said Thursday on X, formerly known as Twitter, in response to a post discussing Bloomberg’s report. “We do liquidity rounds for employees and investors every ~6 months.”

Before Bloomberg’s latest report, SpaceX was most recently valued at $180 billion as of December 2023. SpaceX is the second-most valuable startup in the world, behind TikTok owner ByteDance and ahead of OpenAI.

Since December, SpaceX has won at least one contract with U.S. government agencies worth more than $1 billion. The company will begin building a network of spy satellites for the National Reconnaissance Office, which manages spy satellites, Reuters reports.

The company has also launched its third flight attempt with its 400-foot-tall Starship mega-rocket. SpaceX in recent weeks has been preparing to conduct its fourth test of the Starship rocket, posting photos on X showing its progress. Musk on Thursday confirmed that the next Starship test is “in about 10 days.”

Earlier this week, Musk visited Bali to officially launch satellite internet services in Indonesia, proving access to some 17,000 people through SpaceX’s Starlink subsidiary. Musk also announced that Starlink has more than 3 million customers using its services across 99 countries. The company had reached the 2 million customer milestone in September.

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