Elon Musk's SpaceX Now Valued At $350 Billion: More Valuable Than McDonald's, Coca-Cola

SpaceX, the space technology giant led by Elon Musk, has been valued at an impressive £288 billion ($350 billion).

This valuation, rivaling some of the world's largest brands, reflects SpaceX's industry dominance and comes amid speculation about Musk's potential role in the incoming administration of President-elect Donald Trump.

CNBC first reported on SpaceX's new valuation based on a secondary share sale. According to documents reviewed by the publication, SpaceX and its investors have agreed to acquire insider-held stock through a $1.25 billion (£1.030 billion) purchase offer at $185 (£152.44) per share. Said transaction, a secondary sale of existing shares, does not involve raising new capital.

This marks a rare buyback that underscores the company's robust financial health. The latest valuation reflects a remarkable 67% increase from the company's previous peak valuation of $210 billion, achieved during a secondary share sale in June.

A Brand More Valuable Than Other Global Brands

Following CNBC's latest report, Morning Brew noted that SpaceX's valuation makes it the most valuable private startup to date and is even more helpful than LVMH–the luxury holding group owning brands such as Louis Vuitton, Moet Hennessy, and TAG Heuer–which is currently valued at £285 billion ($347 billion).

SpaceX has also beat out Coca-Cola and McDonald's, which have a current valuation of £225 billion ($274 billion) and £177 billion ($215 billion), respectively. It has also beaten other technology brands such as Salesforce at £280 billion ($341 billion) and AMD at £171 billion ($208 billion), as well as petroleum company Chevron at £230 billion ($280 billion).

In a separate reply on X (Twitter), Musk remarked about the new valuation, stating, 'What's really crazy about this is that almost no investors wanted to sell shares even at a $350B valuation!'

He added, 'SpaceX reduced the amount of shares it bought back from employees in order to allow some new investors in.'

What's SpaceX Currently Up To?

In light of the current fires in Los Angeles, Musk recently revealed that SpaceX will provide free Starlink terminals to support affected areas in Los Angeles.

Musk shared the news while reposting a video of a reporter who credited Starlink for maintaining internet connectivity. The reporter noted, "Starlink is the only reason we're able to hear and communicate with you right now; there's no cell service at all in this entire area."

Meanwhile, Representative Eric Swalwell, D-Calif., urged Musk to leverage his wealth and the social media platform X to assist low-income families whose homes and workplaces have been destroyed by the catastrophic fires.

"This is so sad. Elon, I believe you want to help as much as I do. I'll use my post on Homeland Security Committee to have an open mind regarding concerns over fire cause/response," Swalwell said when responding to the video Musk shared.

Meanwhile, according to sources familiar with the matter, Italy is reportedly in advanced negotiations with Elon Musk's SpaceX to establish a secure telecommunications partnership for the country's government. This would mark the largest initiative of its kind in Europe, according to Bloomberg.

Although discussions are still underway and no final agreement has been reached, the proposed five-year project has already secured approval from Italy's Intelligence Services and Defense Ministry, the sources said, requesting anonymity due to the confidential nature of the talks.

SpaceX's soaring valuation reflects its status as a private aerospace and technology leader. Driven by groundbreaking advancements in reusable rockets, satellite communications, and ambitious projects like Starship and Starlink, the company's ability to attract substantial investor interest and consistently deliver innovation has solidified its position as a cornerstone of the modern space industry.

As SpaceX continues to push the boundaries of exploration and connectivity, its valuation serves as a testament to its vision, execution, and impact on the future of space and technology.