Space X
This company is in the pipeline of America 2030, IPO CLUB’s $50M, actively managed secondary fund focused on U.S. defense, energy, security, and AI.
What is SpaceX?
SpaceX, officially known as Space Exploration Technologies Corp., is an American aerospace manufacturer and space transportation company founded in 2002 by Elon Musk. Headquartered in Hawthorne, California, SpaceX aims to revolutionize space travel by reducing costs and enabling the colonization of Mars. The company is renowned for its groundbreaking achievements, including the development of reusable rockets and spacecraft such as Falcon 9, Falcon Heavy, and Dragon. SpaceX has pioneered commercial spaceflight milestones, including being the first private company to launch and return a spacecraft from Earth orbit and to send a crewed spacecraft to the International Space Station (ISS). Its innovations extend to satellite constellations like Starlink for global internet coverage and Starship, the largest launch vehicle ever built, designed for interplanetary missions. SpaceX collaborates closely with NASA and other government agencies while remaining privately held.
What is SpaceX doing?
Starship Development
SpaceX is actively developing its Starship program, aiming to create a reusable spacecraft for interplanetary missions, including human travel to Mars. Despite setbacks, such as test flight failures, the company continues to refine its design and technology. Plans for 2025 include increasing the launch frequency to up to 25 flights.
Launch Infrastructure Expansion
SpaceX is expanding its launch infrastructure with:
A second launch pad at Starbase, Texas
Preparations for Starship launches from Kennedy Space Center, Florida
A 100-acre facility expansion at Roberts Road to support Starship and Super Heavy vehicles
Starlink Satellite Constellation
SpaceX continues deploying its Starlink satellite network to provide global internet coverage. The company plans to introduce the next generation of Starlink v3 satellites in 2025.
Dragon Spacecraft Missions
The Dragon spacecraft remains essential for crew rotation and cargo resupply missions to the International Space Station (ISS), with regular missions scheduled.
Artemis Program Collaboration
SpaceX is a key partner in NASA’s Artemis program, which aims to return astronauts to the Moon by the end of the decade. Starship plays a central role in lunar landing missions under this initiative.
Where is SpaceX located?
SpaceX is currently headquartered at Starbase in Boca Chica, Texas, near Brownsville. This facility serves as the main site for the development and launch of its Starship program. However, SpaceX still maintains a significant presence at its original headquarters in Hawthorne, California, where it continues to manufacture Falcon rockets and Dragon spacecraft. Additionally, SpaceX operates various other facilities across the United States, including launch sites in Cape Canaveral, Florida, and Vandenberg, California, as well as a satellite manufacturing facility in Redmond, Washington.
SpaceX industry sectors?
Space Exploration and Transportation
SpaceX is a leading force in space exploration, developing reusable rockets such as Falcon 9, Falcon Heavy, and the next-generation Starship. The company provides launch services for satellites, crewed missions to the International Space Station (ISS), and future lunar and Mars missions.
Satellite Communications
The Starlink project is a satellite constellation designed to deliver global internet coverage, particularly in remote regions. SpaceX also offers in-flight internet services for aircraft.
National Security and Defense
SpaceX collaborates with the U.S. military for satellite launches and contributes to military satellite system development for the Space Development Agency.
Telecommunications
Beyond Starlink, SpaceX is expanding its telecommunications services, including providing internet access and integrating with other communication networks.
Space Tourism
SpaceX facilitates space tourism through its Dragon spacecraft, offering private citizens opportunities to travel to space, including missions to the ISS.
Advanced Manufacturing and Technology
The company invests heavily in research and development, focusing on advanced materials and technologies to support its space initiatives.
Environmental and Resource Utilization
SpaceX is exploring the use of Martian resources, such as water and carbon dioxide, to produce fuel for future missions, aligning with broader sustainability objectives.
Business Development
Launch Services Expansion
Increased Launch Cadence: SpaceX plans to ramp up its launch frequency, targeting up to 180 Falcon launches in 2025, with a focus on customer missions and Starlink deployments.
New Launch Pads: Infrastructure expansion includes a second Starship pad in Texas and plans for a Starship launchpad in Florida.
Starship Program Advancement
Test Flights and Reusability: SpaceX aims to conduct up to 25 Starship test flights in 2025, with a focus on rapid reusability for future lunar and Mars missions.
Florida Expansion: A $1.8 billion investment in Florida will support Starship production and launches, creating hundreds of new jobs.
Satellite Communications
Starlink Growth: SpaceX continues expanding its Starlink satellite constellation, enhancing global internet coverage with new satellite launches.
Partnerships: Strategic agreements, such as Filtronic’s $20.9 million contract, are strengthening Starlink’s RF technology capabilities.
Collaborations and Contracts
NASA Partnerships: SpaceX works with NASA on missions, including crew rotations to the ISS and launching astrophysics missions.
Commercial Lunar Missions: The company supports lunar exploration projects, including Firefly's Blue Ghost and iSpace’s Hakuto-R landers.
Innovation and Technology
Advanced Manufacturing: A new Starship production facility is improving efficiency and manufacturing capacity.
Technological Advancements: SpaceX continues to push space technology boundaries, focusing on reusable rockets and advanced propulsion systems.
SpaceX Opportunity
Innovation and Technology Advancements
Reusable Rockets: Development of reusable rocket technology, reducing space access costs and enabling frequent, affordable missions.
Starship Program: Large-scale transportation capabilities to the Moon, Mars, and beyond, facilitating research, resource utilization, and potential human settlements.
Space Exploration and Tourism
Crewed Missions: Regular missions to the International Space Station (ISS) with future expansions to lunar and Mars expeditions, opening opportunities for space tourism and exploration.
Satellite Communications: The Starlink project expands global internet connectivity, enhancing worldwide communication and information access.
Environmental and Scientific Research
Climate Monitoring: Launching satellites to monitor climate change and provide early disaster warnings, supporting global sustainability efforts.
Interplanetary Exploration: Missions to the Moon and Mars offering scientific insights and opportunities for resource utilization, advancing solar system research.
Is SpaceX publicly traded?
SpaceX is not publicly traded and remains a private company. The company does not have shares available on public stock exchanges like NASDAQ or NYSE.
Why may SpaceX Remains Private for long
Elon Musk has consistently indicated that SpaceX will remain private because the company’s long-term goals conflict with the short-term demands of public markets and stockholders. The company’s president and COO, Gwynne Shotwell, has stated that SpaceX could not go public until the company was flying regularly to Mars. This strategic decision allows SpaceX to maintain focus on its ambitious space exploration objectives without the pressure of quarterly earnings reports and shareholder expectations.
How to Access SpaceX Stock
Despite being private, there are limited ways for qualified investors to access SpaceX shares. Accredited investors can purchase SpaceX stock through early investors such as IPO CLUB.
Who owns SpaceX?
Elon Musk’s Stake
Largest shareholder, holding approximately 42% to 50.5% of shares.
Controls 78% of voting rights, significantly influencing strategic direction.
Other Major Stakeholders
The remaining ownership is distributed among various institutional investors and private equity firms that have participated in SpaceX’s funding rounds over the years. Key shareholders include:
• Fidelity Investments - A leading financial services company that has invested significantly in SpaceX
• Google (Alphabet Inc.) - Has invested in SpaceX and holds a stake in the company, leveraging partnerships in satellite technology and internet connectivity
• Founders Fund - A venture capital firm co-founded by Peter Thiel that is a major shareholder
• Bank of America - Also holds a stake in the company
Who owns Starlink?
Starlink is owned by SpaceX, operating as a wholly owned subsidiary through Starlink Services, LLC. Since SpaceX maintains complete ownership and control over the Starlink satellite internet constellation and its related services, understanding Starlink’s ownership requires examining SpaceX’s ownership structure.
How to Invest in SpaceX?
Despite being private, there are limited ways for qualified investors to access SpaceX shares. Accredited investors can purchase SpaceX stock through early investors such as IPO CLUB.
SpaceX funding
SpaceX has raised approximately $9.74 billion across multiple funding rounds since its founding in 2002.
Notable Funding Rounds
Series A (2002): $30.5 million raised at a $122 million valuation.
Series G (2015): Over $1 billion raised at a $12 billion valuation.
2020: $1.9 billion raised at a $46 billion valuation.
2021: $850 million raised at a $74 billion valuation.
2023: $750 million raised at a $137 billion valuation.
Recent Valuation
As of December 2024, SpaceX’s valuation reached $350 billion following a secondary share sale. Starlink now represents about 65% of SpaceX’s total valuation, or roughly $227.5 billion, with the rocket launch business making up the remaining 35%
This company is in the pipeline of America 2030, IPO CLUB’s $50M, actively managed secondary fund focused on U.S. defense, energy, security, and AI.
Key Investors
Elon Musk, Founders Fund, Fidelity Investments, Google Ventures.
Use of Funds
Funds primarily support Starlink satellite constellation expansion, Starship development, and other critical projects.
SpaceX Stock
SpaceX stock continues to be one of the most searched-for investment opportunities in the finance and technology sectors, driven by the company’s rapid growth in the space industry and its dominant position in satellite internet with Starlink. As of mid-2025, SpaceX remains a private company, meaning its shares are not available on public stock exchanges like the NYSE or NASDAQ. However, IPO CLUB’s Members have regularly access to SpaceX via the tenders or secondary share purchases.
Stock price source: IPO CLUB Valuation at Market© - Become a member for in-depth coverage
SpaceX valuation
Key Details of the Valuation
The shares were priced at $185 each in this transaction.
SpaceX plans to buy back up to $500 million in common stock as part of this arrangement.
This valuation represents a substantial increase from its previous peak of $210 billion, achieved through a secondary share sale in June.
Implications of the Valuation
Market Position: At $350 billion, SpaceX has become the world's most valuable private startup.
Comparison to Public Companies: With this valuation, SpaceX would rank within the top 25 companies by market capitalization in the S&P 500, positioned between Johnson & Johnson and Bank of America.
Industry Impact: The valuation surpasses the market capitalization of leading U.S. defense contractors, highlighting SpaceX's dominant position in the space sector.
Factors Contributing to the Valuation
Starlink: The satellite internet service, with approximately five million subscribers, serves as a crucial revenue generator for SpaceX.
Launch Services: SpaceX holds a near-monopoly in the U.S. satellite launch industry, primarily due to its reliable Falcon rockets.
Starship Development: The progress of the colossal Starship rocket continues to advance the company's capabilities and future potential.
It's worth noting that Elon Musk expressed surprise at the high valuation, stating that "almost no investors wanted to sell shares even at a $350B valuation." This suggests strong confidence in the company's future prospects among its current investors.
How much is SpaceX worth?
SpaceX is currently valued at $350 billion as of December 2024, making it the most valuable privately-held company in the United States. This represents an extraordinary increase from $46 billion in 2020, reflecting a growth trajectory that has outpaced many publicly traded tech giants.
SpaceX IPO
In a live Twitter audio interview with Bloomberg in April 2023, SpaceX CEO Elon Musk dismissed questions about a potential IPO for Starlink, the company's satellite internet subsidiary, saying it wouldn't be appropriate for him to comment.
Starlink, with more than 6,000 operational satellites and over 2.7 million subscribers, is viewed by investors as the primary value driver for SpaceX. This discussion comes amidst a resurgence of the IPO market, with three significant IPOs lined up this week across diverse industry sectors.
Is SpaceX Profitable?
Yes, SpaceX is highly profitable and has experienced remarkable financial growth in recent years. The company has transformed from operating at a loss to becoming one of the most profitable private companies in the aerospace industry.
Financial Performance and Profitability
SpaceX achieved significant profitability by 2023, generating an operating profit of approximately $3 billion on $9 billion in revenue. This represents a dramatic turnaround from 2019, when the company reported net losses of $501 million on $1.45 billion in revenue. The company’s revenue growth has been extraordinary, increasing by upwards of 500 percent over five years.
For 2024, SpaceX’s financial performance continued to strengthen substantially. The company reached an estimated $13.1 billion in total revenue, up from $8.7 billion in 2023. Earnings also surged dramatically, with profits rising approximately 50% to $4.5 billion in 2024.
Starship Update
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