It’s no secret that Elon Musk, founder of SpaceX and Starlink, among other ventures, and CEO of Tesla Inc. (ticker: TSLA), has a net worth in the range of $782 billion to $839 billion. If SpaceX’s and Starlink’s highly anticipated debuts on public exchanges come to fruition, he could add billions more.
Is SpaceX or Starlink Publicly Traded Right Now?
SpaceX is expected to go public via an initial public offering as soon as June, with an IPO roadshow slated for early that month, but the company has yet to make its shares publicly available to retail investors. A Starlink IPO is also a possibility, though that company is a subsidiary of SpaceX and its IPO potential has taken a backseat to the SpaceX IPO for now.
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Even if the two companies are not publicly traded yet, investors may not have to wait that long to steer portfolio cash into both companies. Here’s a closer look at how to invest in both private entities, now and down the road:
What Are SpaceX and Starlink?
As of May 2026, SpaceX (Space Exploration Technologies Corp.) has evolved from a rocket manufacturer into a central pillar of Musk’s industrial empire. In February 2026, the company underwent a massive restructuring, acquiring xAI and X (formerly Twitter) as well as Grok, transforming it into a vertically integrated “innovation engine” that combines aerospace, global connectivity and artificial intelligence. Its estimated IPO market valuation ranges up to $2 trillion, but for now it is privately held and controlled by Musk.
Now, SpaceX is the world’s leading private aerospace manufacturer and space transportation company. Its primary mission is to reduce space transportation costs and enable the colonization of Mars. The company’s integrated business model spans launch services, including Falcon 9/Heavy and Starship, satellite internet and government partnerships.
Satellite internet company and SpaceX subsidiary Starlink has about 10 million subscribers, and currently, Starlink accounts for roughly two-thirds of SpaceX’s revenue. That issue would need to be dealt with before Starlink even sniffs at an IPO date, which is open-ended at this point.
Starlink operates as a vertically integrated internet service provider. Unlike traditional telcos that lease satellite capacity, SpaceX builds the satellites, launches them on its own rockets and sells the service directly to the end user. Its massive cash flow is being used to fund the development of the Starship rocket and the xAI integration.
Musk may be tempted to take Starlink public based on its eye-popping financial figures alone. Starlink’s 2025 revenues cleared $10 billion, 60% ahead of its revenue figures for 2024. Since current plans for the SpaceX IPO include an integrated Starlink, its path to an independent IPO could involve an eventual spinoff of Starlink. But that’s not a sure thing at this point.
Here’s what you need to know about investing in SpaceX and Starlink now and in the future:
— How to buy both companies through a SpaceX IPO.
— Taking the private investment route.
— How to buy SpaceX and Starlink through ETFs.
— How to invest in stocks that may benefit from a SpaceX IPO.
— Should you bet on Elon Musk’s management of SpaceX?
How to Buy Both Companies Through a SpaceX IPO
On the upside, since Musk and SpaceX control Starlink, investors can leverage the latter’s robust revenues by buying SpaceX shares once that company goes public. SpaceX filed for an IPO with the Securities and Exchange Commission on April 1, and market insiders say a public offering could reach or exceed a $1.75 trillion to $2 trillion valuation, easily making it the largest IPO in U.S. history. That title is currently held by Saudi Arabian Oil Co., or Saudi Aramco (2222.SR), which raised $25.6 billion to $29.4 billion in 2019. SpaceX could well exceed those numbers, with an expected IPO haul of $75 billion.
The question is, when will Musk give SpaceX the green light to go public? It’s possible that IPO date could come later rather than sooner.
“For SpaceX, my base case is an IPO within the next 12 to 24 months,” says Ilya Margolin, a United Arab Emirates-based international economic analyst. “The company has moved beyond market speculation into practical preparation.”
In Margolin’s pre-IPO model, SpaceX ranks first among large private IPO candidates, with a readiness score of 80 (out of 100) and an estimated IPO probability of about 80% over the next three years. “For Starlink, a separate IPO looks less imminent,” Margolin adds.
Taking the Private Investment Route
Beyond potential IPOs, are there ways investors can invest in both companies, as Wall Street veterans see it?
“Both SpaceX and Starlink remain private, so retail investors cannot buy shares directly on a stock exchange,” says Igor Pejic, a technology stock analyst and author of “Big Tech in Finance.” “High-net-worth accredited investors can get shares through secondary-market platforms, such as EquityZen, Hiive and Rainmaker Securities, as those occasionally list SpaceX shares from existing holders (employees, early investors).”
Pejic warns that those platforms come with high minimum thresholds of up to $100,000 for entry by accredited market investors, rising fees, liquidity restrictions and SpaceX’s right of first refusal. “Plus, availability fluctuates,” he notes.
[Read: 7 Best Space Stocks and ETFs to Buy in 2026]
How to Buy SpaceX and Starlink Through ETFs
Retail investors can invest in several exchange-traded funds that provide indirect exposure to SpaceX and Starlink without requiring accreditation or large minimums.
For example, the ERShares Private-Public Crossover ETF (XOVR) holds meaningful exposure to SpaceX. “It’s a daily-traded ETF combining public stocks with private-company access,” Pejic says. “Other ETFs and funds like Baron First Principles ETF (RONB) or the Private Shares Fund (PRIVX) have SpaceX holdings as well. Broader space ETFs provide indirect thematic exposure but minimal to no direct SpaceX weighting.”
Even after the IPO, ETFs may be the safest way for investors to get exposure to SpaceX and Starlink, through diversified funds. “This will help shield investors from any sudden downturn that these companies may have once they are trading publicly,” says Karissa McLaren, a financial advisor at Oasis Wealth Planning in Bowling Green, Kentucky.
McLaren offers a portfolio example to illustrate the relative safety of funds with Space and Starlink: Let’s assume SpaceX IPOs at a $1.75 trillion market capitalization. By comparison, Meta Platforms Inc.’s (META) market cap is $1.7 trillion. META makes up around 2.68% of the S&P 500 index. For simplicity’s sake, let’s say SpaceX will make up 2.7% of the S&P.
“Say SpaceX drops 20% after the IPO and you hold $100,000 in an S&P 500 index fund. You’re looking at a loss of $540,” McLaren notes. “Even if SpaceX sees a sharp downturn, a broad market ETF will provide enough diversification so that this one isolated position will not have a significant impact on overall performance. On the flip side, you still have exposure to these funds should they perform well.”
How to Invest in Stocks That May Benefit From a SpaceX IPO
Investors can also benefit from SpaceX’s exposure to other industry stocks, with these publicly traded names at the top of the list:
AST SpaceMobile Inc. (ASTS)
This Midland, Texas-based company is building a broadband cellular network in space to operate directly with standard, unmodified mobile devices, backed by an extensive IP and patent portfolio. It’s a SpaceX competitor, but benefits from being in the same satellite sector as SpaceX. AST SpaceMobile shares had risen after a late-April Federal Communications Commission approval for the company’s direct-to-device satellite internet plan, although ASTS shares are down 12% year to date as of the May 5 market close.
Rocket Lab Corp. (RKLB)
This Long Beach, California-based rocket-launch and control-systems company for the space and defense industries competes directly with SpaceX and should catch a decent tailwind when SpaceX goes public. RKLB is already on a heater, as the stock rose 29% in April, driven primarily by a robust order backlog and multiple “buy” calls from industry analysts over the past month.
Alphabet isn’t a player in the space race, necessarily, but it’s a big investor in the sector, with a major position in SpaceX, holding an estimated 5% to 6% stake in the company. If SpaceX clocks in with a projected near-$2 trillion IPO valuation, Alphabet’s stake in the company should clear $100 billion when SpaceX goes public.
Should You Bet on Elon Musk’s Management of SpaceX?
The path to profits via SpaceX and Starlink goes through CEO Elon Musk and his unique management style. Many market experts believe an investment in either company will leave investors in good hands, though Musk has his critics.
Regarding the SpaceX IPO: “The investment case rests on four pillars: launch dominance, Starlink as a global communications network, defense and government infrastructure, and the future role of space-based infrastructure for AI and data,” Margolin says. “At a valuation above $1.5 trillion, investors would already be paying for several future scenarios at once, so upside would depend heavily on Starlink growth, Starship execution, government contracts and SpaceX’s ability to maintain its technological lead.”
However, Margolin says that he trusts Musk more with SpaceX than with Tesla or X. “SpaceX is the most institutionalized part of his business empire,” he says. “It has a strong engineering culture, long-cycle contracts, deep government demand and high operational discipline. The main risks are control concentration, Musk’s reputational volatility and possible IPO valuation overheating.”
Pejic concurs, adding that Musk’s track record speaks for itself. “He founded six billion-dollar companies in very diverse fields, every time solving difficult technical problems,” he says. “If anybody can build the things he has talked about, such as data centers in space and colonies on Mars, it’s somebody with his profile.”
Like Margolin, however, Pejic says he sees some potential pitfalls for investors. “Though SpaceX is a healthy company, without the Elon Musk premium it would be worth only a fraction of what it is today,” he says. “This is a significant operational risk. If anything happens to Musk, the investment will fail.”
That’s different from other tech sector icons, such as Steve Jobs and his success with Apple Inc. (AAPL). “Jobs also had a cult-like following, but building a smartphone is different from building supercomputers in space and turning humanity into a space-faring civilization,” Pejic says. “This is where the question comes back to valuations: Are you willing to pay a super-high price for a company that gets most of its value from its founder?”
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Can You Invest in SpaceX and Starlink in 2026? originally appeared on usnews.com
