SpaceX approaches investors for tender offer that values Elon Musk firm at $175B: report

Elon Musk’s SpaceX has approached investors about another tender offer that would value the company at above $175 billion, Bloomberg reported Wednesday.

Tender volume could go up as it is not finalized that could value the firm even higher, the report added.

SpaceX’s current valuation of about $150 billion makes it one of the most valuable private companies in the world.

Billionaire investor Ron Baron, who according to CNBC owns more than $1 billion worth of shares in the rocket company, last month said that SpaceX will be worth about $500 billion by 2030.

SpaceX did not immediately respond to a Reuters request for comment.

Musk in November had said that Starlink, SpaceX’s satellite internet unit, had achieved cash flow breakeven. Starlink is the world’s largest satellite company and boasts a network of about 5,000 low-Earth orbit satellites.