Overview
- SpaceX is preparing a secondary share sale that investors were told could reprice the company near $800 billion, roughly double a summer tender around $400 billion.
- Chief financial officer Bret Johnsen reportedly outlined the sale and an initial public offering window in the second half of 2026 during recent investor meetings.
- The current plan contemplates listing the entire company including Starlink, marking a shift from prior talk of a separate Starlink spinoff.
- Starlink’s growth is central to the pitch, with more than 8 million active customers in November and deals such as a T-Mobile tie-up and a $17 billion EchoStar spectrum purchase to reach phones.
- Valuation signals are mixed, with Bloomberg reporting some insider sales may clear near $300 per share, which would imply roughly $560 billion.