SpaceX is gearing up for an insider share sale that could value Elon Musk’s rocket and satellite company at up to $800 billion, potentially restoring its status as the world’s most valuable private firm.

The plan, reviewed by SpaceX’s board on Thursday at its Starbase facility in Texas, may still shift depending on seller and buyer interest, according to Bloomberg, citing people familiar with the discussions.

The company is also weighing a potential initial public offering as early as late next year, one source added.

Another source said the potential sale price for some employee and investor shares is set above $400 each, implying a valuation between $750 billion and $800 billion.

SpaceX would not raise new capital through the transaction, but a successful sale at that range would surpass the $500 billion record valuation OpenAI reached in October.

Elon Musk on Saturday denied that SpaceX is seeking to raise funds at an $800 billion valuation, but did not comment on Bloomberg’s report about a planned sale of insider shares.

“SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” Musk said in a post on his social media platform X.

The proposed share-sale price marks a sharp jump from the $212 per share set in July, when SpaceX last raised funds at a $400 billion valuation.

The valuation news also lifted EchoStar Corp.’s stock by as much as 18 per cent.

The satellite TV and wireless firm recently agreed to sell spectrum licenses to SpaceX for $2.6 billion, following an earlier deal to transfer roughly $17 billion worth of wireless spectrum to Musk’s company.