![Elon Musk’s SpaceX near 0 billion valuation after stock sale Elon Musk’s SpaceX near 0 billion valuation after stock sale](https://i0.wp.com/image.cnbcfm.com/api/v1/image/107068116-1653652927776-51971203827_5296dd93f5_k.jpg?fit=%2C&ssl=1)
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Elon Musk’s SpaceX is valued at nearly $150 billion after existing investors announced a stock sale this week, according to CNBC.
SpaceX has struck a deal with new and existing investors to sell up to $750 million in shares to insiders at $81 a share, according to a copy of the takeover offer sent by Chief Financial Officer Bret Johnsen on Thursday and obtained by CNBC.
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The company has not yet announced a new capital raise, and the offer represents a secondary sale of existing stock. Musk said in April that the company “does not anticipate needing to raise capital” to further support plans for Starship, Starlink and other initiatives. SpaceX typically conducts secondary financing twice a year, offering employees and other company shareholders an opportunity to sell stock.
A Starship prototype stands on the company’s launch pad in Boca Chica, Texas, on March 16, 2022.
SpaceX
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SpaceX continues to invest heavily in developing the next-generation Starship rocket. Musk expects the company to spend about $2 billion this year on the development of the vehicle. The first flight of Starship off the launch pad achieved multiple milestones, but also encountered multiple problems. SpaceX is preparing to attempt a second launch in the coming months, pending approval from the U.S. Federal Aviation Administration. The U.S. Federal Aviation Administration (FAA) is also pursuing an environmental lawsuit over how it regulates SpaceX’s Starship spacecraft.
But SpaceX has remained mum on a potential IPO for the Starlink business. President Gwen Shotwell said earlier this year that there was “no update”. Last year, CNBC reported that Musk told employees that the company was unlikely to take Starlink public until 2025 or later.
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