Elon Musk’s X may be flailing, but another company owned by the billionaire is on track to reach dizzying heights. Musk is in talks to sell between $500 million and $750 million of SpaceX stock at a valuation of $175 billion or more, Bloomberg reported Wednesday, citing unnamed sources. The figures mean the private space giant, which still hasn’t announced plans to go public, is more highly valued than any initial public offering in U.S. history, topping Alibaba’s $169 billion IPO valuation from 2014.
The latest private market valuation for SpaceX also marks a substantial increase over the $150 billion valuation the company enjoyed in July, when new and existing investors bought $750 million of stock. And it would make SpaceX more highly valued than American corporate giants like Disney, which has a $170 billion market cap, and Comcast, which is worth just over $171 billion.
