SpaceX insider share sale sets $800 billion valuation.

SpaceX has authorized an insider share sale that values Elon Musk's company at about $800 billion as the rocket-maker prepares for its initial public offering, Bloomberg News reported on Friday.



The company's move towards a public listing, which could rank among the largest global IPOs, has been largely driven by the rapid expansion of its Starlink satellite internet business, including plans for direct-to-mobile service and progress in its Starship rocket program for moon and Mars missions.



The company is offering shares to insiders at $421 apiece, and also said it is preparing for a possible IPO in 2026, Bloomberg reported, citing a company message.



The New York Times reported that Bret Johnsen, SpaceX’s chief financial officer, said in a letter to employees the company planned to buy $2.56 billion of stock from shareholders at $421 a share.



"Whether it actually happens, when it happens, and at what valuation are still highly uncertain, but the thinking is that if we execute brilliantly and the markets cooperate, a public offering could raise a significant amount of capital," Johnsen said in the letter, according to the NYT.