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It looks like Elon Musk's space transportation company may have doubled its value in only a year.
SpaceX is currently in talks to sell insider shares in a deal that would value the private company at around $350 billion, Bloomberg reported Monday, citing sources familiar with the potential sales.
SpaceX did not respond to a request for comment from Business Insider.
If the $350 billion valuation is realized, it would be double what the company was reportedly selling shares at one year ago. In December 2023, Bloomberg reported SpaceX shares were being sold at a $175 billion valuation.
The outlet previously reported SpaceX shares were being sold at a $210 billion valuation in June and at $255 billion just last month.
The company has long executed tender offers at fairly regular intervals. The deal allows employees to sell some of their shares, which often make up a significant part of their compensation, to SpaceX-approved investors.
Sources told Bloomberg the latest deal was still being discussed and that it could change.
The boost in valuation would be another major gain for Musk, whose net worth has reached record highs since Donald Trump was elected president last month. Musk is set to work closely with the Trump administration as the co-leader of the Department of Government Efficiency, an advisory committee also known as DOGE.
Musk was worth $353 billion as of Monday, according to the Bloomberg Billionaires Index, in part due to Tesla's major rally this year. The electric vehicle company's stock was up more than 40% in 2024 as of Monday's market close.
