A sale of insider shares at $421 a share would make Mr. Musk’s rocket company the most valuable private company in the world, as it readies for a possible initial public offering next year.

Elon Musk and California Governor Gavin Newsom are in a public dispute after the governor's office made a personal jab about Musk's estranged transgender daughter. The exchange began after America PAC, a political action committee founded by Musk, posted a clip of Newsom speaking with New York Times columnist Ezra Klein.