SpaceX stock: Elon Musk's space exploration company is privately held
AP
- SpaceX is Elon Musk's privately held space exploration company.
- SpaceX has made more than 240 launches in its 21-year history.
- Musk is reportedly eyeing an IPO for Starlink, which could see $10 billion in business in 2024.
SpaceX is a private company specializing in space launches and has previously raised funds from both NASA and the United States Department of Defense. SpaceX's valuation could soon be at $150 billion.
Because it's a private company, it's not easy for an ordinary person to buy stock. There are firms, like EquityBee, that allow people to invest in companies prior to their Initial Public Offering.
However, SpaceX is reportedly eyeing a 2024 IPO for its Starlink internet satellite business. SpaceX estimated that Starlink could see as much as $10 billion in business in 2024.
SpaceX is not currently publicly planning to become a public company, but it is reportedly considering a sale of employee stock shares, which would increase its valuation to $150 billion. SpaceX has previously sought investments from private sources and sold shares to employees to gain capital and reward employees.
In 2018, Elon Musk tweeted that he had "funding secured" to take electric vehicle manufacturer Tesla private.
This statement landed the Tesla and SpaceX CEO in hot water with Tesla investors, who sued him claiming that he manipulated Tesla's stock price when it shot up 11% in a matter of hours.
The United States Federal Securities and Exchange Commission later alleged that the proposed buyout price point of $420 per share was done to amuse his then-girlfriend Grimes.
Musk denied this allegation and two days later on September 29, 2018, settled the SEC's fraud charges, agreeing to pay $40 million in penalties and stepping down as Tesla chairman.
In January 2023, Musk told the civil court hearing the investors' lawsuit that he was counting on the sale of SpaceX stock to take Tesla private.
"SpaceX stock alone meant 'funding secured' by itself. It's not that I want to sell SpaceX stock, but I could have, and if you look at the Twitter transaction — that is what I did. I sold Tesla stock to complete the Twitter transaction. And I would have done the same here," Musk told the court.
Musk founded SpaceX in 2002.
Musk's space company has been transferring Starlink assets to a wholly owned subsidiary, a November 2023 report said, although no final decisions have been made, and an IPO could also be pushed later to 2025.