SpaceX, the aerospace company founded by Elon Musk, is reportedly planning an insider share sale that would value the firm at around US$400 billion.

This valuation confirms SpaceX’s status as the highest-valued startup in the world.

Sources familiar with the matter indicate that the per-share price in the upcoming deal is set at US$212, increasing from US$185 during a previous transaction in December.

The sources spoke on the condition of anonymity due to the confidential nature of the details.

As of now, SpaceX has not commented on the reported share sale.

🔗 Source: Bloomberg

🧠 Food for thought

1️⃣ Unprecedented valuation growth reflects commercial space industry transformation

SpaceX’s meteoric rise from a $10 billion valuation in 2016 to $400 billion in 2025 represents a 40-fold increase in less than a decade 1.

This growth trajectory is remarkable when compared to SpaceX’s earlier valuations: below $10 billion in 2014, $30.5 billion in 2018, and $350 billion just seven months ago in December 2024 231.

The company’s valuation now exceeds many established public companies and positions it as the world’s most valuable private company, demonstrating how space has evolved from a government-dominated sector to a commercially viable industry 14.

This growth coincides with SpaceX’s increasing operational scale, from just five launches in 2016 to a planned 170 launches in 2025, showing the concrete operational metrics supporting this valuation surge 56.

The space industry has been transformed by SpaceX’s business model of reusable rockets, which drastically reduced launch costs from approximately $60 million per mission to projected figures as low as $5-7 million, creating entirely new market opportunities 23.

2️⃣ Revenue diversification drives valuation beyond government dependency

SpaceX has evolved from heavy reliance on NASA contracts to building a diversified revenue stream, with projected 2025 revenue of $15.5 billion—of which only $1.1 billion comes from NASA 6.

This transformation is striking compared to 2016, when SpaceX’s business was largely anchored by government contracts, including a $440 million NASA contract for Dragon spacecraft development 5.