SpaceX Contemplates Starlink IPO as Early as 2024 Amidst Soaring Demand

In a move aimed at capitalizing on the surging demand for space-based communications, SpaceX is reportedly in discussions regarding an initial public offering (IPO) for its Starlink satellite business, slated to potentially take place as early as late 2024. Individuals with knowledge of the matter have revealed that SpaceX is actively preparing for this strategic move by transferring the satellite unit’s assets into a wholly-owned subsidiary that would subsequently be spun off in the IPO. These sources, who chose to remain anonymous due to the confidential nature of the discussions, shared these insights.

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However, it is essential to note that no definitive decisions have been made at this point, and SpaceX may choose to retain ownership of the unit. Furthermore, the IPO’s timing might be subject to delay, with some sources suggesting it could be pushed to 2025.

As of the time of reporting, representatives from Space Exploration Technologies Corp., SpaceX’s formal name, have not issued an official comment regarding these developments.

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Elon Musk, the founder and CEO of SpaceX, has hinted at the possibility of a Starlink IPO for several years. The precise timing of such an offering has remained uncertain until now. In 2021, Musk stated that the space-based internet service would consider going public once it could reasonably predict cash flow, a key financial metric used to assess a company’s financial health.


Musk’s comments last year indicated that a public market debut might be years away. Nevertheless, Starlink has experienced remarkable growth recently, with SpaceX anticipating Starlink to generate approximately $10 billion in overall sales next year. This projection surpasses the revenue generated by its rocket launch business and accounts for two-thirds of the company’s total revenue, as reported by Bloomberg News on November 6.

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Established in 2002, SpaceX has assembled a constellation of over 5,000 satellites in Earth’s orbit, providing high-speed internet connectivity to customers in more than 60 countries. The company has committed significant financial resources to expand this satellite constellation further.

Starlink, along with competitors such as Inc.’s Project Kuiper, is engaged in a fierce race to deploy thousands of additional small satellites in low-Earth orbit, enabling connectivity in remote areas and in locations previously hindered by natural disasters or conflicts.

While financial specifics of SpaceX, a closely held company, have been limited, Elon Musk announced on November 2 via the X social media platform that Starlink had achieved cash flow breakeven. This marked a noteworthy turning point, especially considering Musk’s acknowledgment last year that Starlink was “still losing money.” At that time, he had expressed his primary objective for the business as ensuring it did not face financial insolvency.

Meanwhile, in response to the Bloomberg report, Elon Musk took to X to deny its accuracy.

The discussions surrounding the potential Starlink IPO underscore the increasing significance of space-based communications and the evolving landscape of the aerospace industry as private companies like SpaceX continue to drive innovation and exploration beyond our planet’s borders.

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