Elon Musks SpaceX is reportedly weighing a share of insider shares that would value the rocket company at approximately $350 billion, according to a report.
The tender offer in which employees and early investors are allowed to sell shares at a specific time and price would mark a rapid jump in value for SpaceX.
Musks firm was valued at approximately $210 billion after a previous tender offer that closed in June.
The terms of the tender offer are fluid and could change based on interest from participants, Bloomberg reported, citing people familiar with the matter.
SpaceX did not immediately return a request for comment.
If the $350 billion valuation holds, it would establish SpaceX as the worlds most valuable private firm.
SpaceX is the worlds largest satellite company and is the operator of Starlink, a high-speed internet service designed to serve rural and remote regions that lack traditional infrastructure.
Musks firm has also developed the Starship shuttle as part of the billionaires plans to return astronauts to the moon and eventually to Mars.
Musk emerged as a key adviser and donor for President-elect Trump during his 2024 campaign for the White House. Trump notably attended a Starship test launch in Texas last month.
The budding relationship between Trump and Musk is widely seen as a bullish sign for the billionaires businesses, which include SpaceX, Tesla and the artificial intelligence startup xAI.
Trump has tapped Musk and Vivek Ramaswamy to co-lead the so-called Department of Government Efficiency, or DOGE, which is tasked with slashing the federal budget and unnecessary regulations.