Elon Musk’s SpaceX is preparing to sell about $1bn of its shares in a deal that would value the rocket and satellite group at $400bn, according to people familiar with the matter.
The sale of employee shares, known as a tender offer, would mark another large jump in SpaceX’s valuation. It was valued at $210bn in the middle of last year, but its valuation soared to $350bn in December when it carried out its most recent tender offer.
The transaction reinforces SpaceX’s position as one of the most valuable private companies in the world. OpenAI was valued at $300bn earlier this year while TikTok parent company ByteDance was valued at more than $400bn in February.