SpaceX is preparing to sell insider shares that could value the company at $800 billion, surpassing OpenAI’s record. Elon Musk denies the valuation but confirms regular stock buybacks. The potential share price is higher than $400, up from $212 in July. News of SpaceX’s valuation boosts EchoStar Corp. shares by 18%.

SpaceX dominates the space industry with its Falcon 9 rocket and Starlink satellite internet service. The company could go public with a potential $800 billion valuation, making it one of the 20 largest public companies. An IPO could be the largest ever, surpassing Saudi Aramco’s $29 billion listing in 2019.

SpaceX executives have considered spinning off Starlink into a separate public company. Plans for a potential IPO of the entire company in the second half of next year have been discussed with investors. A tender offering would allow employees and early shareholders to sell shares, providing liquidity for investors in closely held companies like SpaceX.

SpaceX is focusing on developing its Starship vehicle, designed to carry a large number of Starlink satellites and cargo to the moon and Mars. Elon Musk has not addressed Bloomberg’s report on the insider share sale. The company remains a key player in the space industry and satellite internet services sector.

Read more at Yahoo Finance: SpaceX to Offer Insider Shares at Record-Setting $800 Billion Valuation