SpaceX Moves its Incorporation from Delaware to Texas

[Yazata]

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[C C]

Cynic's Corner: The so-called Haven State, at least until the "we don't understand cause and effect" crowd fleeing there from expensive states like California reaches the number where they can vote in the same kind of Lord Protectors in Texas (high taxes, costly excessive standards and preconditions to satisfy, fees, levies, charges, massive paperwork, lockdowns, etc).

Just processing and accommodating the constant deluge of Biden migrants, as well bussing them to hypocritically complaining "welcoming" sanctuary cities, has to be racking be up a significant financial burden that's got to be allayed somehow.

Enjoy your once semi-secret and secluded refuge for what period is left, long-time residents. It's days are numbered.

[Yazata]

Well, I guess we found out what will be going in the new office building at Starbase...

Elon has just announced that SpaceX is moving its company headquarters from Hawthorne to Starbase.

SpaceX is the world's largest aerospace company by valuation. This move will really put Starbase Texas on the map.

https://x.com/elonmusk/status/1813290895334383820

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And X (formerly Twitter) is moving from San Francisco to Austin

https://x.com/elonmusk/status/1813295489032622586

Elon goes full-Texas

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[Yazata]

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[Yazata]

Bloomberg is reporting that the end of the year opportunity for insiders (employees and various friends of Elon investers) to sell shares, values SpaceX at $350 billion. If true, this is a 40% increase over its $250 billion valuation at its last share sale in June. It would definitely establish SpaceX both as the world's most valuable private company (a company whose shares aren't publicly traded on an exchange) and as the world's most valuable aerospace company.

Apparently Flight 5's success (and Trump's election victory) created a stampede among investers who want a piece of SpaceX. And given that Elon owns close to half of SpaceX, it increases his net worth by about $50 billion. Tesla shares have been rising like a rocket too, with that company valued at roughly $1 trillion. (Elon owns about 13% of Tesla.)

Of course these latest SpaceX numbers reported by Bloomberg are totally unconfirmed.

https://www.bnnbloomberg.ca/business/com...valuation/

[Yazata]

Bloomberg is reporting that the end of the year opportunity for insiders (employees and various friends of Elon investers) to sell shares, values SpaceX at $350 billion. If true, this is a 40% increase over its $250 billion valuation at its last share sale in June. It would definitely establish SpaceX both as the world's most valuable private company (a company whose shares aren't publicly traded on an exchange) and as the world's most valuable aerospace company.

And talk is swirling that SpaceX is planning another opportunity for employees and other investors to sell shares. This one is reportedly set to value the company at a mind-boggling $800 billion, up more than 100% from a year ago!! This would move SpaceX back ahead of OpenAI and once again make it the world's most valuable privately-held company.

Again, this is totally unconfirmed, though the Wall Street Journal is reporting it.

There are also reports that SpaceX plans an IPO to go public around the end of next year, though many (including me) view those reports with considerable skepticism. It is more likely that SpaceX might spin off Starlink, its biggest revenue generator, while retaining a controlling interest in the new company. The reports swirling today insist that the IPO would be for the entire SpaceX company though.

The problem with that would be that after an IPO SpaceX would be subject to all kinds of SEC oversight and vulnerable to no end of shareholder lawsuits. (We've already seen that repeatedly with Tesla.) SpaceX management would be legally required to increase shareholder value, which might mean ending Elon's Mars dreams if those prove to be less profitable than a different course for the company. I don't believe that there's any way that Elon would do that, and he owns a controlling interest in SpaceX.

[Yazata]

Elon says that the $800 billion valuation reported in the post above isn't correct. Unclear what SpaceX is currently valued at.

But for an idea of SpaceX's future potential, here's ARC Invest's detailed analysis. They expect SpaceX's valuation in 2030 to be ~$2.5 trillion. (The bear case is $1.7 trillion, and the bull case is $3.1 trillion.)

https://www.ark-invest.com/articles/valu...pacex-2030

They see Starlink generating ~$300 billion a year in revenue. Which, once the Starlink constellation is built out, will enable SpaceX to go all-in on Mars. Individual satellite performance should continue to increase, especially once Starship is available to launch them. They are already talking about 1 Tbps bandwidth per satellite.

Arc Invest doesn't see Mars taking off and becoming a large part of SpaceX's enterprise value until the mid 2030's. Their expectation is that SpaceX will send lots of Optimus bots to Mars before they send a significant number of humans. They estimate the robot population of Mars might be in the tens of thousands in 2034, and perhaps 1.6 million by 2040. All working tirelessly to prepare Mars infrastructure for humans.

[C C]

In comparison, in either 1969 or 1970 the press was crowing about the United States being the first country in history to have a GDP of over one trillion dollars. Now a single company could be approaching that figure in terms of value. Of course, a trillion dollars today is equivalent to a whole lot less than it was over 55 years ago.

https://countryeconomy.com/gdp/usa?year=1970

Elon says that the $800 billion valuation reported in the post above isn't correct. Unclear what SpaceX is currently valued at.

But for an idea of SpaceX's future potential, here's ARC Invest's detailed analysis. They expect SpaceX's valuation in 2030 to be ~$2.5 trillion. (The bear case is $1.7 trillion, and the bull case is $3.1 trillion.)

https://www.ark-invest.com/articles/valu...pacex-2030

They see Starlink generating ~$300 billion a year in revenue. Which, once the Starlink constellation is built out, will enable SpaceX to go all-in on Mars. Individual satellite performance should continue to increase, especially once Starship is available to launch them. They are already talking about 1 Tbps bandwidth per satellite.

Arc Invest doesn't see Mars taking off and becoming a large part of SpaceX's enterprise value until the mid 2030's. Their expectation is that SpaceX will send lots of Optimus bots to Mars before they send a significant number of humans. They estimate the robot population of Mars might be in the tens of thousands in 2034, and perhaps 1.6 million by 2040. All working tirelessly to prepare Mars infrastructure for humans.