SpaceX insider share sale sets $800 billion valuation as it prepares to go public: Report

SpaceX has authorised 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,…