Elon Musk’s SpaceX Targets Sky-High Valuation With Insider Sale, Eyes 2026 IPO

Elon Musk-led SpaceX is gearing up for an internal share sale that would push its valuation higher than OpenAI’s record-setting $500 billion, according to Bloomberg reports. The new tender offer is expected to peg the company’s worth at up to $800 billion.

The company, in addition, may even explore an IPO in 2026. The plan was reviewed by the board of directors on Thursday at a Starbase site in Texas. However, it can shift depending on demand from employees and investors, the report said.

The proposed pricing is above $400 per share, which implies a valuation in the $750-800 billion range for SpaceX. But the final terms remain fluid, it noted. If these figures hold, SpaceX would reclaim its position as the world’s most valuable private company, surpassing the $500-billion benchmark set by ChatGPT developer.

Earlier, the Wall Street Journal and Financial Times, also reported that a deal would value SpaceX at $800 billion. SpaceX dominates the space industry with its Falcon 9 rocket that lists satellite and people to orbit. It has become the world’s most prolific rocket launcher.

With Starlink’s 9,000-plus satellites, SpaceX remains the top provider of low-Earth-orbit internet, which has left challengers like Amazon’s Amazon Leo far behind.

SpaceX belongs to a small circle of global companies capable of attracting capital at valuations north of $100 billion, all while insisting they are in no rush to tap the public markets.

If SpaceX lists at an estimated valuation of about $800 billion, it would rank among the world’s 20 largest publicly traded companies, placing it not far behind Elon Musk’s Tesla, the report said.

A public debut at that scale would rewrite IPO records. It added that selling even a 5% slice of the company at that valuation would require SpaceX to raise roughly $40 billion, eclipsing the nearly $29 billion Saudi Aramco raised in 2019, currently the largest IPO in history.

Notably, Aramco floated only a tiny fraction of its ownership at the time, far below the typical float investors expect when most companies go public.

Going public would also expose SpaceX to the market’s daily fluctuations, something private firms are shielded from due to the opacity of their internal valuations.

Recent offerings from the aerospace and defense sector in 2025 have produced mixed outcomes: Karman Holdings has surged since its listing, while Firefly Aerospace and Voyager Technologies have suffered sharp post-IPO declines.

For years, SpaceX leaders have floated the possibility of carving out Starlink as a separate listed entity. Musk has alternated between openness and skepticism about such a move, and in 2024, Chief Financial Officer Bret Johnsen indicated that any Starlink IPO would likely materialize only “further down the road".