Elon Musk's SpaceX is preparing to launch a tender offer in December to sell existing shares at a price of $135 per share, two sources familiar with the matter said.

Elon Musk’s SpaceX reportedly plans to launch a tender offer next month that would sell existing shares at a price of $135 each, valuing the company at more than $250 billion.

On Tuesday, Trump appointed Musk and Vivek Ramaswamy, a biotech entrepreneur and former presidential hopeful, to lead a new “department of government efficiency”. It will “provide advice and guidance from outside of government” and look for ways to “dismantle” bureaucracy, Trump said in a statement.