According to sources cited by the Financial Times of the United Kingdom on Friday, November 15, SpaceX, the largest private aerospace company in the United States, is preparing to sell its existing stocks in the form of a takeover offer in December at $135 per share.
This move would elevate the valuation of SpaceX, owned by billionaire Elon Musk, to over $250 billion, surpassing its earlier valuation of $210 billion earlier this year.
Sources also revealed that Musk’s artificial intelligence startup company xAI has raised $5 billion. The company is now valued at $45 billion, nearly double its valuation from a few months ago.
On Tuesday, President-elect Trump appointed Musk and biotech entrepreneur and former presidential candidate Vivek Ramaswamy to lead a new “Government Efficiency Department.”
In addition, the stock price of Tesla, the electric car manufacturer where Musk serves as CEO, has risen by nearly 30% since the election.
Apart from its Mars mission plans, SpaceX aims to expand its network of 6,000 low-Earth orbit satellites, known as the Starlink broadband network, overseen by Musk.