Elon Musk has recently responded to reports suggesting that SpaceX is preparing for a massive new funding round at an $800 billion valuation. Musk took to social media to clarify the situation and revealed that commercial Starlink has become the main revenue generator for SpaceX.
Contrary to the reports, Musk stated that SpaceX is not raising money at an $800 billion valuation and that the company has been cash flow positive for many years. He mentioned that SpaceX only conducts periodic stock buybacks to provide liquidity for employees and investors.
Musk attributed SpaceX’s valuation growth to the progress of Starship, the expansion of Starlink, and securing global direct-to-cell spectrum, which he believes greatly increases the company’s addressable market. He also hinted at another significant value driver that he chose not to disclose at the moment.
Addressing claims that SpaceX is subsidized by NASA, Musk clarified that these claims are false. He emphasized that SpaceX won NASA contracts because it offered the best product at the lowest price. Musk also revealed that commercial Starlink is the largest contributor to SpaceX’s revenue, surpassing NASA contracts, which constitute less than 5% of the company’s revenue.
Starlink, SpaceX’s satellite internet service, has recently surpassed eight million users across more than 150 countries. The service has also secured major in-flight Wi-Fi deals with airlines, including South Korea’s flag carrier and its sister airlines. SpaceX has introduced its cheapest Starlink plan yet, priced at $40 per month, and has opened its first physical Starlink retail stores in the U.S.
Furthermore, SpaceX is gearing up to test satellite mobile service on its newly acquired wireless spectrum following the $17 billion EchoStar deal, which presents another significant revenue stream for the company. With speculations about a possible SpaceX IPO in 2026, Musk’s clarification highlights that Starlink, and not government contracts, is now the primary economic driver for SpaceX. Do you ever feel like you’re stuck in a rut, going through the motions of life without any real purpose or direction? If so, you’re not alone. Many people struggle with feelings of stagnation and lack of fulfillment in their lives. But the good news is that it’s never too late to make a change and start living a more purposeful and meaningful life.
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