Elon Musk founded SpaceX, preparing for a massive IPO in 2026 that could value the company at an enormous $1.5 trillion. This valuation is more than Apple and Meta combined and is equal to a third of India's entire listed market cap. SpaceX is the most valuable private company in the world right now, worth about $800 billion in private markets. It has more than 60% of the world's launch capacity, and Starlink's millions of subscribers make up the largest satellite constellation in human history. The offer could be the biggest IPO in history, thanks to Starlink's rapidly increasing subscriber growth and projected revenues of more than $20 billion as satellite internet becomes more popular.
Recent secondary sales put the current private valuation at around $800 billion, and the company plans to raise more than $30 billion when it goes public. This is based on Starlink's profitability and Musk's ambitious plans for space and AI. There is no official confirmation, but several reports point to mid- to late-2026 as the time when Starlink will be available to millions of users around the world.
Why now?
Elon Musk has been resistant to the short-term pressures of public markets, but reports say that he will soon encounter limits on private capital as he works on starships, lunar contracts, and AI/space data centre projects that need $30 billion or more in funding. Starlink's steady income from homes, airlines, and the military is better than its lumpier contracts, but ongoing satellite costs and Musk's plans for Mars make it challenging for shareholders to get the cash flow that they seek.
The Reusability Revolution
SpaceX's Falcon boosters offer reusability at a cost 10 times lower than competitors' reusable rockets. Vertical integration speeds up iteration, allowing 100+ launches a year by 2025, compared to 10–20 combined by competitors.
Valuation in Perspective
SpaceX's revenue of $15.5 billion means that its forward multiples are 22 to 50 times higher than those of aerospace companies (1 to 2 times higher), but they are in line with high-growth tech companies through Starlink's model. Rocket Lab trades at 40 times on a smaller scale, which shows how strong the moat is.
Important risks and facts
SpaceX's culture of explosive testing could clash with public scrutiny, geopolitical satellite roles can make it harder to follow the rules, and there is no definitive revenue for multi-planetary goals, which could lead to a $1T+ sinkhole. Starlink's mix of utility and tech makes it hard to value, and a listing of this size would be bigger than Aramco, evaluating whether markets can fund risky projects beyond what is predictable.
Final Thoughts
These numbers indicate that the company is combining high-growth SaaS recurring revenue with launch dominance, a reason why they demand premium multiples before going public. Starship is risky and requires capital, but its size beats the competition.
Indian investors should keep an eye out for LRS access strategies, space ETFs, or global funds after the IPO. The space economy launchpad is ready.
