Dec 12 (Reuters) - 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.
SpaceX did not immediately respond to a request for comment on either report. Reuters could not immediately verify the reports.
Reuters and others reported on Tuesday that SpaceX was looking to raise more than $25 billion through an IPO in 2026, a move that could boost the rocket-maker's valuation ;to more than $1 trillion.
Musk also hinted at a possible SpaceX IPO in a post on social media platform X earlier this week.
The California-based company ranks as the world's second most-valuable private startup after ;ChatGPT maker OpenAI, according to data from Crunchbase.
(Reporting by Gursimran Kaur in Bengaluru; Editing by Chris Reese, Himani Sarkar and Christian Schmollinger)
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