SpaceX valued at $800 billion, plans IPO

SpaceX, the rocket and satellite maker run by Elon Musk, told employees 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.

- RYAN MAC

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.