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SpaceX Shares Valued Above Disney and Comcast
December 8, 2023
In what seems to be a trend of astronomical success, SpaceX, the brainchild of Elon Musk, is reportedly contemplating a share sale. This move carries an implied valuation for the company of an astounding $175 billion, a solid $25 billion hike from its worth in the summer, as outlined in a recent Bloomberg report.
This proposed transaction, projected to be priced at $95 per share, aims to garner between $500 and $750 million, according to anonymous insiders. SpaceX’s valuation was pegged at $150 billion back in June during its last fundraising round. Earlier this year in January, an Andreessen Horowitz-led funding effort valued the company at $137 billion, according to CNBC.
This up-and-coming valuation puts SpaceX in the same league as the globe’s most valuable businesses, such as Comcast and Disney, which are both worth around $167 billion.
SpaceX was founded back in 2002 by Musk with an audacious vision of colonizing Mars and quickly became a significant player in the space exploration industry. In the first three quarters of this year alone, SpaceX launched 69 rockets into orbit, outpacing its closest competitor, China’s space agency, which achieved 30 launches, as reported by space analytics firm BryceTech.
However, SpaceX’s journey hasn’t been without its challenges. The company’s Starship mega rocket made headlines with its second test flight in November, failing once again, albeit covering a farther distance than its first explosive launch.
The Starship, the heaviest launch vehicle in space history to date, is designed to be entirely reusable and is pegged as the key to carrying humans to Mars. After grappling with losses for two years, SpaceX celebrated a significant turnaround, reporting a $55 million profit for Q1 2023 on revenues of $1.5 billion, according to The Wall Street Journal.
There were murmurings in the industry last month about SpaceX considering a stock market listing for Starlink, its satellite internet division. However, Musk himself refuted these reports, stating that such an event is not in the immediate pipeline.
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