Ed Ludlow

Eric broke this story with me yesterday afternoon.

And we'll go back to the basics of what we're reporting, Eric, because there's a lot of data in there.

But the main headline, I suppose, beyond the valuation is SpaceX wants to raise north of $30 billion.

You and I are getting a sense on why they need that capital.

Eric, we're showing the other part of what we reported, which is through our reporting confirmation of this tender or secondary offering that's going on.

In other words, SpaceX allowing employees to sell shares.

But to do that, you need to set a price.

And that gives a valuation.

We've now done that reporting.

Run us through the numbers that we need to know about this tender.

And for me, the important bit here is that this kind of settles valuation ahead of that IPO.

In the private markets, the share price right now is about $420, $421 a share.

There is so much left to discuss.

I think that a lot of people will say, how expected was this?

We've done reporting over a number of years actually on the space team that originally the focus was on spinning off Starlink, right?

Because you and I also reported some of the financials for SpaceX in this current year and next year.

Starlink right now is really the cash cow for this company.

Bloomberg's Eric Johnson, who leads the team on space coverage.

Thank you very much.

And I point out, SpaceX hasn't commented on this.