GoKawiilThe SpaceX facility and a Falcon 9 rocket booster are shown, as the company prepares to file for an initial public offering (IPO), in Hawthorne California, U.S., April 23, 2026.
Elon Musk's SpaceX will need to achieve at least two of its three "moonshots" to justify its huge valuation, a former Tesla board member told CNBC Friday.
Musk's reusable rocket company is looking to raise $75 billion, selling 555.6 million shares for $135 apiece, according to a filing with the Securities and Exchange Commission. The deal values SpaceX at $1.77 trillion, making it the seventh most-valuable U.S. company, ahead of Tesla .
Venture capitalist and former Tesla board member Steve Westly told CNBC's "Squawk Box Europe" on Friday that pricing SpaceX's imminent IPO is going to be hard to predict, as its three core companies are "completely disparate."
In addition to its space business, Musk's company owns the Starlink satellite internet service, which accounts for the bulk of its revenue and is the only profitable unit. It also includes xAI, which Musk merged with SpaceX in February.
"SpaceX is three moonshots in one company, but I think they're going to need to make at least two of these moonshots successful to keep that $2 trillion valuation," said Westly, who also founded venture fund, The Westly Group.