Elon Musk’s SpaceX valued at $350B in latest tender offer – report

Elon Musk’s SpaceX (SPACE) and its investors have agreed to buy as much as $1.25B of insider shares in a deal that values the spacecraft maker at about $350B, Bloomberg reported, citing an internal email.

SpaceX (SPACE) alone is offering to buy as much as $500M worth of stock in the tender offer. The $350B valuation makes it the world’s most valuable private startup.

The deal’s price of $185/share is significantly higher than SpaceX’s (SPACE) last tender offer, which was priced at $112 apiece. The company had proposed pricing its shares at about $125 as recently as mid-November.

The high investor appetite comes as Musk’s proximity to president-elect Donald Trump brought on a so-called “Trump bump” in the billionaire’s businesses. Musk’s wealth has swelled to about $384B, according to the Bloomberg Billionaires Index, up $155B this year.

Musk’s AI startup xAI reached a valuation of $50B following its funding round last month. Meanwhile, Tesla’s (TSLA) stock has soared close to 60% since Election Day, with its market cap currently at $1.26T.