Elon Musk’s SpaceX worth about 150 billion dollars after the sale of shares

Elon Musk’s SpaceX valuation has reached $150 billion following the announcement this week of a stock sale by existing investors, CNBC has learned.

SpaceX has an agreement with new and existing investors to sell up to $750 million in shares to insiders at $81 a share, according to a copy of the purchase offer sent by CFO Brett Johnson on Thursday, obtained by CNBC.

The company has not announced the addition of new capital at this time, the purchase offer represents a secondary sale of existing shares. Musk said in April that the company “didn’t think it needed to raise money” to further bolster programs for Starship, Starlink and other initiatives. SpaceX typically conducts these secondary rounds twice a year, to give employees and other company shareholders a chance to sell shares.

The new share price represents a roughly 5 percent increase from the previous secondary sale, at $77 each, at a value of $140 billion. SpaceX did not respond to CNBC’s request for comment on the acquisition offer.

Bloomberg and The Wall Street Journal have previously reported plans to sell the company’s stock.

SpaceX continues to be one of the most valuable private companies in the world, having been classified as a “senticorn” or “hectocorn” – a $1 billion unicorn, 100 times.

The company has established a monopoly in the US satellite launch market as it competes with the near-field based Falcon rockets and its operational rocket rivals. Last month, SpaceX landed an orbital rocket booster for the 200th time, making it 47 times this year, setting a new average for the company of launching every four days.

Musk’s company has so far produced about 5,000 Starlink Internet satellites. The service has reached over 1.5 million customers in less than three years since its launch. SpaceX achieved a cash flow positive quarter last year and predicted that “Starlink will be profitable” by 2023. It won a Pentagon contract last month to provide Starlink services in Ukraine, for an undisclosed amount.

SpaceX continues to spend heavily on the development of its next-generation Starship rocket. Musk expects the company to spend about $2 billion on the vehicle’s development this year. The first Starship flight took off from the launch pad and achieved many milestones, but also had a number of problems. SpaceX is preparing for a second launch in the coming months, but is awaiting approval from the Federal Aviation Administration to do so. Environmental lawsuits are also fighting how the FAA will regulate SpaceX’s Starship.

But SpaceX is keeping quiet about a potential IPO of its Starlink business. “There is no update,” president Gwynne Shotwell said earlier this year. Last year, CNBC reported that Musk told employees that the company might not take Starlink public until 2025 or later.