According to Bloomberg reports, Musk's space exploration company SpaceX is in discussions to sell internal stocks at a valuation of $350 billion, a significant increase from last month's reported $255 billion, which will solidify SpaceX's status as the world's most valuable private startup. The Delaware judge upheld the ruling regarding Musk's 2018 compensation plan, but it still does not affect his status as the world's richest person.

SpaceX valued at $350 billion

According to insiders, negotiations with SpaceX are currently underway, and the details of potential deals may change based on the interests of internal sellers and buyers. Employees and some early shareholders can sell their stocks through so-called tender offers, providing liquidity for SpaceX investors with a small number of shares. The valuation currently being discussed has reached as high as $350 billion, a significant increase from last month's $255 billion.

Recently, SpaceX received approval from the U.S. Federal Communications Commission to provide direct satellite service for mobile phones using Starlink, in collaboration with T-Mobile US Inc., the second largest wireless telecommunications operator in the U.S., utilizing its Starlink satellites to supplement T-Mobile's base station coverage. Starlink's total sales for this year are expected to reach $10 billion, surpassing its rocket launch business, accounting for two-thirds of total sales. It is reported that Musk is also considering spinning off the rapidly growing Starlink satellite business from SpaceX and conducting an initial public offering (IPO).

(Musk's SpaceX has been approved to provide mobile direct satellite service using Starlink)

Musk's compensation plan loss, but still the richest person in the world

Since Donald Trump's electoral victory has thrust Musk, the so-called 'first buddy,' into the political spotlight, the value of Musk's numerous businesses has been soaring. According to the Bloomberg Billionaires Index, Tesla's stock price has risen 42% since November 5, and Musk's personal wealth has surged to about $353 billion, firmly securing his position as the richest person in the world.

However, according to CNBC reports, a Delaware judge upheld the ruling regarding Musk's 2018 compensation plan. She stated that even if shareholders vote in favor of Musk receiving a large dividend at this year's shareholder meeting, the court still ruled that Musk solely 'controlled Tesla' and dictated his compensation terms to a board that did not negotiate fairly. The judge ruled that the approval process for the compensation plan had 'serious flaws' and approved a $345 million attorney fee to be paid to the lawyers who successfully brought the lawsuit on behalf of Tesla shareholders.

According to previous reports from Chain News, Musk has not taken a fixed salary since 2018, but instead receives performance bonuses and dividends for achieving phased results set by the company’s long-term goals. After meeting the targets, Musk can purchase Tesla shares at a price of $23.34 per share, but there is a 5-year lock-up period.

(See how Tesla makes money! How does Musk's rich compensation come about?)

Tesla shareholders have long expressed grievances about Musk's prior acquisition of Twitter (now renamed X), feeling unable to devote much energy to Tesla's operations, ultimately leading to a lawsuit demanding the court to overturn the 2018 compensation plan granted to Musk by the Tesla board.

Based on Monday's closing price of $357, the Tesla shares that Musk still holds are worth nearly $150 billion. This does not include his shares in SpaceX, which is sufficient to keep him firmly in the position of the richest person in the world. Equilar estimates that based on today's stock price, Musk's 2018 compensation plan is worth $101.4 billion.

This article on SpaceX considering a $350 billion valuation for a tender offer and Musk's loss in the compensation case does not affect his status as the world's richest person first appeared in Chain News ABMedia.