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SpaceX is reportedly gearing up for an insider share sale, potentially firing Elon Musk's rocket-and-satellite firm to a low-Earth-orbit $350 billion valuation.
What does this mean?
That's a major liftoff from last month's rumored $255 billion valuation. In fact, at $350 billion, SpaceX would officially reign as the priciest private startup on this planet. The insider share sale would give employees and early investors a chance to cash in their stakes at this lofty level, even while the company stays private. And SpaceX's sky-high valuation just may be written in the stars: the firm is about to make history with orbital flights from its Starship Rocket. And that project is about more than just space exploration: it's about slashing launch costs - again. They've already plummeted about 90% from the NASA shuttle days, but this rocket could make launches up to 99% cheaper. That's huge: SpaceX isn't just aiming for space: it's rewriting the playbook on how humans get there.
Getting off the planet is more accessible and profitable than ever - with costs falling and launches rising at a blistering 50% annual pace. Cheaper launches and improvements in high-tech satellites are driving advances in internet access, navigation, weather forecasting, and tools to combat climate change. It's no wonder the World Economic Forum expects the space economy to hit a massive $1.8 trillion by 2035, three times what it was last year. If that happens, it would mark an annual growth rate of 9% - more than triple the growth expected for the global economy. Space isn't some niche enterprise: it's a key player in tech, defense, and loads of other industries.