SpaceX nears $150 billion valuation after secondary share sale

SpaceX's valuation has reached nearly $150 billion after a recent share sale by existing investors. The company has an agreement to sell up to $750 million in stock from insiders at $81 a share, without raising new capital. This offering represents a secondary sale of existing shares, allowing employees and shareholders to sell their stock. The new share price marks a 5% increase from the previous secondary sale at $77 each, valuing the company at approximately $140 billion.

As one of the most valuable private companies globally, SpaceX is classified as a "centicorn" or "hectocorn" - a $1 billion unicorn, 100 times over. It has established a near-monopoly in the U.S. satellite launch market with its Falcon rockets, while competitors struggle to compete with operational rockets.

Despite its achievements, SpaceX faces challenges with the development of its next-generation Starship rocket. The company expects to invest around $2 billion in the vehicle's development this year, but it encountered some issues during its first flight. SpaceX is preparing for a second launch pending Federal Aviation Administration approval, which is currently entangled in an environmental lawsuit.

Regarding the potential IPO of its Starlink business, SpaceX has remained tight-lipped. There have been no updates, and it is unlikely to go public until 2025 or later, as per Elon Musk's previous statements to employees.