SpaceX eyes $350 billion valuation, setting the stage for Elon Musk to become the world’s first trillionaire

In November, SpaceX reportedly floated the idea of selling existing shares at $135 each, valuing Elon Musk’s space startup at $250 billion. Just two weeks later, the company is said to be discussing insider share sales that could push its valuation to around $350 billion, according to Bloomberg.

This new figure represents a sharp increase from last month’s reported valuation of $255 billion, as noted by Bloomberg and others. It would also solidify SpaceX as the highest-valued private startup globally. Earlier this year, the company was valued at about $210 billion during a tender offer.

Talks about the sale are still underway, and details could shift depending on the level of interest among sellers and buyers. A $350 billion valuation would place SpaceX in the same league as some of the largest publicly traded firms, potentially positioning Elon Musk to become the world’s first trillionaire before the decade is over.

“SpaceX is in discussions to sell insider shares that could boost the value of Elon Musk’s rocket and satellite company to around $350 billion, Bloomberg reported, citing people familiar with the matter.

The tender, or secondary offering, allows SpaceX employees and early shareholders to sell their shares, giving investors in the private company an opportunity to gain liquidity. This move comes as Elon Musk strengthens his connections with President-elect Donald Trump.

The tender offer announcement comes shortly after SpaceX unveiled its “Marslink” proposal to NASA. Marslink is designed to establish a high-speed internet connection between Earth and Mars, capable of transmitting data at 4 Mbps across 1.5 astronomical units. This initiative aligns with Musk’s long-term vision of colonizing Mars and making humanity an interplanetary species.

SpaceX’s Starship is also central to NASA’s Artemis program, which aims to use the rocket for moon missions as a stepping stone for Mars exploration. With this momentum, Musk’s Mars ambitions may gain even greater traction under a U.S. administration prioritizing deep-space missions.

Is Musk on Track to Become the World’s First Trillionaire?

The potential valuation jump reflects the remarkable growth across Musk’s ventures since the U.S. presidential election. Tesla’s stock has surged 42% since November 5, crossing the $1 trillion mark in market capitalization and boosting Musk’s net worth to approximately $353 billion, according to the Bloomberg Billionaires Index. This increase has been driven by market optimism and speculation about potential policy changes.

Musk’s other projects are also contributing to his growing fortune. His AI company, xAI, secured $5 billion in funding at a valuation of $45 billion, doubling in value within months. Reports suggest Nvidia is planning to invest in Musk’s artificial intelligence startup xAI, bolstering its large language model, Grok.

This momentum hasn’t gone unnoticed. A report from Informa Connect in September projected that Musk could become the world’s first trillionaire as soon as 2027. While this prediction highlights his extraordinary trajectory, it also contrasts with the stories of once-prominent figures like Adam Neumann, whose ambitions for similar milestones fell short.

SpaceX, founded by Musk in 2002, began with a mission to lower the cost of space transportation and pave the way for Mars colonization. Starting with a small team, the company now employs over 10,000 people and has transformed the aerospace sector.

Elon Musk and SpaceX Team in 2002

From the initial Falcon rocket trials to today’s reusable boosters and Starlink’s global internet service, SpaceX has consistently raised the bar for innovation in space exploration. Its rising valuation is a testament to its ability to turn ambitious goals into commercial success.

If valued at $350 billion, SpaceX would rival some of the largest publicly traded companies globally in terms of market capitalization.