Elon Musk’s rocket firm Space X is thinking about a fundraising that could see it valued at £275billion.
The California-based group, which the Tesla tycoon founded in 2001, is considering an offer for insiders to sell shares that would allow early backers and some employees to cash out.
If the share sale values Space X at the expected level, it would result in a 66 per cent increase in the price tag for the business, which during its last funding round achieved a value of £166billion.
The group continues to see demand for its products, such as reusable rockets from space agencies.
Blast-off: SpaceX, which Elon Musk founded in 2001, is considering an offer for insiders to sell shares which would allow early backers and some employees to cash out
Space X’s Dragon spacecraft is running a supply mission for Nasa to the International Space Station.
The firm is also conducting experimental flights of its Starship rocket, which it dubs the ‘most powerful launch vehicle’ ever built.
Musk, 53, has made no secret of his desire to see humans land on Mars.
It is a goal backed by President-elect Donald Trump, who is reportedly keen for astronauts to arrive on the red planet during his second term in office.
Space X’s other major project is Starlink, a satellite network that is designed to provide high-speed internet to anywhere in the world.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
***
Read more at DailyMail.co.uk