Back to News
Mar 25, 2026 12:01 PM

Forget Rockets — SpaceX Takes $20 Billion Telecom Giant Public

Everyone's going to call it the biggest initial public offering ever. They'll talk about rockets, Mars and Elon Musk. But they'll be looking at the wrong business. That’s because the SpaceX IPO isn't really about launch vehicles.

It's about Starlink—a satellite internet network that has quietly become one of the fastest-growing telecom businesses in the world.

After crossing $10 billion in revenue in 2025, estimates for 2026 already point to $15 billion to $24 billion. Call it a $20 billion run-rate business.

And it's growing like a startup.

Starlink Growth Engine

Starlink went from roughly 1 million users in 2022 to over