SpaceX Employees Offer to Sell Shares at $125 Billion Valuation | Tech News

SpaceX Employees Offer to Sell Shares at $125 Billion Valuation

SpaceX employees are offering to sell shares via a private placement that would value Elon Musk’s launch and satellite company at around $125 billion.

By:BLOOMBERG
| Updated on: Aug 22 2022, 12:25 IST
SpaceX
It’s unclear whether Elon Musk is selling SpaceX stock as part of the employee tender, the people said. The size of the offering couldn’t immediately be determined. (AFP)

SpaceX employees are offering to sell shares via a private placement that would value Elon Musk's launch and satellite company at around $125 billion, according to people familiar with the matter.

The shares are being offered in a so-called employee tender at $70 each, the people said, asking not to be identified because the details are private. That compares with a split-adjusted $56-a-share during a sale in October at a valuation of about $100 billion.

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
23% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

It's unclear whether Musk is selling stock as part of the employee tender, the people said. The size of the offering couldn't immediately be determined.

Also read
Looking for a smartphone? To check mobile finder click here.

SpaceX didn't respond to a request for comment outside regular business hours. The New York Post reported the share placement plan earlier.

Musk has been seeking a variety of funding sources to complete his agreement to purchase Twitter Inc. On Monday he suggested the deal for the social media platform might be completed at a lower price, days after he questioned Twitter's ability to estimate how many accounts are spam or fake.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 17 May, 20:17 IST
NEXT ARTICLE BEGINS