From $210 Billion Last Year to $400 Billion This Year
Company Value Doubles Vertically in Just One Year
Market Focuses on Fundamental Value Beyond Trump Discord
SpaceX, the unlisted space company led by CEO Elon Musk, has been valued at approximately $400 billion (549 trillion won). This suggests that expectations in the investment industry are so high that they surpass concerns about 'political risk,' such as rumors of discord with U.S. President Donald Trump.
According to Bloomberg News and the UK’s Financial Times (FT), SpaceX plans to sell about $1 billion worth of shares through a tender offer. In this process, the company was valued at $400 billion.
A tender offer is a method in which early investors or employees sell their shares. Since it is difficult to dispose of shares in unlisted companies like SpaceX, the company or a specific investor directly purchases the shares held by these parties at a set price.
SpaceX's valuation jumped from $210 billion in mid-2024 to $350 billion during a tender offer in December of the same year, and has now soared vertically to $400 billion. This places the company among the top 20 U.S. listed companies in terms of size. It is now larger than well-known listed companies such as Home Depot, Bank of America (BoA), and Procter & Gamble (P&G).
Elon Musk, CEO of SpaceX, attended as a panelist at the Saudi Arabia-US Investment Forum held in Riyadh, Saudi Arabia, on May 13 (local time), waving his hand as he entered. Photo by EPA Yonhap News
Foreign media have noted that SpaceX has been assigned a high valuation despite recent political uncertainties surrounding CEO Musk. Once considered President Trump’s “first buddy,” Musk recently clashed internally over the reduction of electric vehicle subsidies included in the “One Big Beautiful Bill (OBBBA)” passed by the U.S. Congress, and subsequently left the Department of Government Efficiency (DOGE). When Musk announced he would found a third party called the “America Party,” President Trump dismissed it as “ridiculous.”
Bloomberg News explained that the valuation reflects various factors, including the rapidly growing Starlink satellite internet division and SpaceX’s unrivaled reusable rocket development capabilities. FT pointed out, “After CEO Musk publicly clashed with President Trump last month, there were concerns that some companies could face headwinds,” adding, “This deal signals that investors are betting on the company’s future, overcoming risks such as the potential loss of government contracts or nationalization.”
Meanwhile, it has been reported that SpaceX also plans to raise funds externally through the issuance of new shares.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
