Elon Musk's SpaceX Surpasses Disney and Comcast with a Valuation of $175 Billion

SpaceX's huge Super Heavy-Starship.

SpaceX Valued at $175 Billion

SpaceX is reportedly planning to sell shares at a valuation of $175 billion, according to Bloomberg. This valuation places Elon Musk's company ahead of industry giants such as Disney and Comcast.

Potential Share Sale

Elon Musk's SpaceX is exploring a share sale priced at $95 per share, aiming to raise between $500 million and $750 million. These details were revealed by unnamed sources, as reported by Bloomberg.

Previous Valuations

During its last funding round in June, SpaceX achieved a valuation of $150 billion. In January, the company raised $750 million at a valuation of $137 billion, led by Andreessen Horowitz, as reported by CNBC.

Impressive Valuation

If the share sale goes through at the reported valuation, SpaceX will become one of the world's most valuable companies, surpassing the current valuations of Comcast and Disney, both valued at around $167 billion.

SpaceX's Mission and Achievements

Founded by Elon Musk in 2002, SpaceX has set its sights on Mars colonization and has become a frontrunner in the space race. In the first nine months of this year, SpaceX conducted 69 orbital launches, compared to China's space agency, which conducted 30 launches, according to space analytics firm BryceTech.

Starship Mega Rocket

SpaceX's second test flight of the Starship mega rocket faced a setback in November, but it demonstrated more progress than its initial launch. The Starship mega rocket aims to be the heaviest space launch vehicle to date and is intended for fully reusable operations and passenger transportation to Mars.

Financial Performance

After experiencing losses for two years, SpaceX reported a profit of $55 million for the first quarter of 2023, with revenues totaling $1.5 billion, as reported by The Wall Street Journal.

Denial of IPO Reports

In response to reports suggesting a potential IPO for its satellite internet division, Starlink, Elon Musk denied the claims. SpaceX has no immediate plans for a stock market listing for Starlink.

SpaceX has not yet responded to Business Insider's request for comment outside of normal working hours.

Read the original article on Business Insider

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By: kteo@insider.com (Kai Xiang Teo)
Title: Elon Musk’s SpaceX Surpasses Disney and Comcast with a Valuation of $175 Billion
Sourced From: www.businessinsider.com/elon-musk-spacex-valuation-175-billion-more-disney-comcast-2023-12
Published Date: Thu, 07 Dec 2023 03:18:28 +0000