Elon Musk’s SpaceX reportedly plans to launch a tender offer next month that would sell existing shares at a price of $135 each, valuing the company at more than $250 billion.

SpaceX is on a trajectory to remain the most dominant player in space launches for years to come as it makes strides with its heavy-duty Starship rocket program.

Elon Musk's SpaceX is preparing to launch a tender offer in December to sell existing shares at a price of $135 per share, two sources familiar with the matter said. The tender offer would value SpaceX at more than $250 billion,

On a Saturday morning in December 2022, Elon Musk summoned finance executives at Twitter, which he had bought six weeks earlier, to a conference call. Then he drilled into a spreadsheet that contained the social media company’s expenditures.

Meanwhile, Musk’s artificial intelligence start-up xAI has raised $5bn at a valuation of $45bn, almost double its valuation a few months ago, according to the people. The fundraising has been carried out at breakneck speed as discussions between Musk and his investors began just last month.

SpaceX’s Starship rocket will be launched for a sixth test flight next week, the latest experiment by the Elon Musk-owned aerospace firm to create reusable spacecraft after a previous test resulted in a “seminal moment” for the company.