SpaceX considers tender offer that boosts valuation to $350 billion – report

SpaceX (SPACE) is reportedly considering plans to sell existing shares at a price that could value billionaire Elon Musk’s space firm at roughly $350 billion.

That would be a significant premium to a previously mulled valuation of $255 billion, and would also cement SpaceX’s status as the most valuable private startup in the world, Bloomberg reported, citing people familiar with the matter.

SpaceX was last valued at about $210 billion in a tender offer.

The current conversations with SpaceX are ongoing and the details of a potential transaction could change depending on interest from insider sellers and buyers, the report said.

“The so-called tender or secondary offering, through which employees and some early shareholders can sell shares, provides investors in the closely held SpaceX a way to generate liquidity amid deepening ties between Musk and President-elect Donald Trump.”

Tesla (TSLA) shares meanwhile are up 42% since Trump’s victory as the expectation for a relaxed regulatory environment is more favorable to the EV maker than its competitors, in both electric vehicle production and autonomous vehicles.

Elsewhere, a Delaware judge has again rejected Tesla CEO Elon Musk’s multi-billion dollar pay package for a second time, leaving the company uncertain as to how to compensate their CEO for a 1,500% share price gain over the last 5 years.