<a href="https://www.thenationalnews.com/business/2022/11/17/spacex-workers-say-criticism-of-elon-musk-got-them-fired/" target="_blank">Elon Musk’s</a> <a href="https://www.thenationalnews.com/uae/2022/12/11/whats-next-now-that-spacex-has-launched-uaes-rashid-rover/" target="_blank">SpaceX </a>is reportedly offering to sell insider shares at a price that would raise the closely held company’s valuation to about $140 billion. <a href="https://www.thenationalnews.com/world/us-news/2022/10/03/spacex-to-launch-four-astronauts-to-iss-for-nasa/" target="_blank">Space Exploration Technologies Corporation</a>, as the company is formally called, is offering the shares for $77 apiece, sources said. The $140 billion figure compares with a $127 billion valuation in July, according to data provider PitchBook. In recent weeks, SpaceX had held conversations for a range of prices but ultimately settled on $140 billion for the valuation in a tender offer, the sources said. It couldn’t be immediately ascertained as to whether the company will seek to raise capital in a primary funding round at that valuation. A representative for SpaceX, the most valuable private company in the US, did not immediately respond to a request for comment. SpaceX, based in Hawthorne, California, dominates the commercial space launch market. The company sends payload into orbit for private sector customers, Nasa and other government agencies. It also ferries astronauts to and from the International Space Station on behalf of Nasa, and has run the first private space tourism mission for civilians to orbit the earth for several days. The closely held company, led by Mr Musk, is also building a constellation of thousands of Starlink satellites to beam broadband internet coverage to the Earth below. Mr Musk has previously said Starlink could be spun off in a public listing once cash flow is more predictable. In June 2021, Mr Musk said the company would need to invest $20 billion to $30 billion to maintain Starlink’s competitive position. Mr Musk has a net worth of almost $168 billion, according to the Bloomberg Billionaires Index. His stake in SpaceX was valued at about $47 billion, according to the index.