Starlink, the revolutionary satellite internet constellation operated by SpaceX, has captured the imagination of investors worldwide. With over 7,000 satellites in orbit and millions of subscribers across the globe, this Elon Musk venture represents one of the most exciting investment opportunities in the space and telecommunications sectors. But there's a catch: you can't directly buy Starlink stock—at least not yet.
Can You Invest in Starlink?
The short answer is no, not directly. Starlink is a wholly owned subsidiary of SpaceX, which remains a private company. There is no Starlink stock trading on public exchanges, and SpaceX itself has not conducted an initial public offering (IPO).
However, Elon Musk has hinted at the possibility of a future Starlink IPO, stating that the company would go public "only several years in the future when revenue growth is smooth and predictable." With Starlink generating an estimated $7.7 billion in revenue in 2024 (representing 58% of SpaceX's total revenue), the conditions for an IPO may be approaching—but no official timeline has been announced.
Starlink and SpaceX Valuation
Understanding Starlink's value requires looking at SpaceX's overall valuation, since the satellite internet business is part of the larger aerospace company.
Current SpaceX Valuation
As of December 11, 2024, SpaceX reached a valuation of $350 billion following a secondary share sale. This represented a remarkable 67% increase from its $210 billion valuation just six months earlier in June 2024.
Starlink has become SpaceX's largest revenue stream, with the satellite internet service generating $7.7 billion in revenue in 2024, accounting for 58% of the company's total income. Industry analysts estimate that Starlink represents approximately 60-65% of SpaceX's total valuation, which would place Starlink's standalone value at roughly $210-228 billion.
Alternative Valuation Estimates
Some private market platforms provide even higher valuations. According to UpMarket estimates, assuming Starlink Internet has issued 250 million shares, at an estimated valuation of $478.40 billion, each share would be worth approximately $1,913.61. However, these private market valuations can be speculative and should be viewed with caution.
Growth Trajectory
Starlink's subscriber base has grown exponentially from just 10,000 users in 2021 to approximately 4.6 million in 2024, with projections of reaching 8 million subscribers by the end of 2025. Revenue projections for 2025 estimate $11.8 billion in total revenue, driven by consumer services, hardware sales, and lucrative U.S. government contracts.
Alternative Ways to Invest in Starlink
While direct investment isn't possible, several alternatives allow exposure to Starlink and SpaceX's growth potential:
1. Scottish Mortgage Investment Trust (SMT)
Scottish Mortgage Investment Trust, a FTSE 100 company managed by Baillie Gifford, holds SpaceX as its largest position, representing approximately 7.8% of its £15 billion portfolio.
Key Details:
- Listed on the London Stock Exchange
- Ticker: SMT
- As of August 31, 2024, the investment accounted for approximately £636 million ($636 million) of the trust's assets
- Provides diversified exposure to global growth companies alongside SpaceX
- Available to retail investors through most UK and international brokerages
Scottish Mortgage offers a balanced approach for investors who want SpaceX exposure without putting all their eggs in one basket. The trust's portfolio includes other high-growth technology companies, spreading risk while maintaining significant exposure to SpaceX's upside potential.
2. RIT Capital Partners (RCP)
RIT Capital Partners, a London-listed investment trust backed by the Rothschild family, made a strategic investment in SpaceX in 2024, with the holding valued at £26.4 million at the end of 2024.
Key Details:
- Listed on the London Stock Exchange
- Ticker: RCP
- Portfolio manager Maggie Fanari confirmed the SpaceX investment demonstrates the trust's ability to access exclusive opportunities not typically available to individual investors
- Multi-asset global portfolio approach
- Smaller SpaceX exposure compared to Scottish Mortgage
While RIT Capital's SpaceX stake is considerably smaller than Scottish Mortgage's, it represents another avenue for gaining indirect exposure to the space company through a respected investment vehicle.
3. Pre-IPO Investment Platforms: Robinhood Ventures Fund I
In September 2025, Robinhood announced the launch of Robinhood Ventures Fund I (RVI), a closed-end fund designed to offer retail investors exposure to private firms, including technology companies like SpaceX, while they are still privately held.
What This Means for Investors:
The fund, which has filed an initial registration statement with the U.S. Securities and Exchange Commission, is managed by Robinhood Ventures DE LLC and aims to bridge the gap between the $10 trillion private market and retail investors. The company noted that the number of publicly-traded U.S. companies has declined from about 7,000 in 2000 to about 4,000 in 2024, while private companies have grown in number and value.
Robinhood previously unveiled plans to let EU users buy tokenized shares that track high-profile private companies like OpenAI and SpaceX. The new U.S.-focused fund will hold investments for the long-term through IPO and beyond.
Once approved by the SEC, shares of the Robinhood Ventures Fund I will trade under the ticker RVI on the NYSE, allowing retail investors to participate in pre-IPO companies that were traditionally accessible only to institutional investors and high-net-worth individuals.
4. Other Investment Options
Specialized ETFs:
- ARK Space Exploration & Innovation ETF (ARKX): Focuses on companies involved in space exploration and innovation
- ERShares Crossover ETF (XOVR): Reportedly had approximately 12.3% of assets allocated to SpaceX as of late 2024
Mutual Funds:
- Fidelity Contrafund (FCNTX): Invested in SpaceX in 2015; by end of 2024, the stake had grown to $2.7 billion, making SpaceX the fund's 11th-largest holding
The Case for Investing in Starlink
Why Investors Are Excited
- Market Leadership: Starlink commands over 60% of the global satellite broadband market, significantly outpacing competitors like OneWeb and Amazon's Project Kuiper
- Revenue Growth: With revenue growth of 83% year-over-year in 2024, Starlink demonstrates exceptional momentum in a rapidly expanding market
- Government Contracts: Lucrative partnerships with NASA and the Department of Defense provide stable, high-margin revenue streams
- Technological Advantage: SpaceX's vertical integration and reusable rocket technology give Starlink a significant cost advantage over potential competitors
- Global Expansion: With coverage in over 100 countries and growing, Starlink has enormous runway for international subscriber growth
Risks to Consider
- No Direct Investment Path: Until an IPO occurs, all investment methods involve indirect exposure through funds or trusts
- Valuation Uncertainty: Private market valuations can be volatile and difficult to verify
- Competition: Amazon's Project Kuiper and other satellite internet providers could challenge Starlink's market position
- Regulatory Challenges: International regulations and spectrum allocation issues could limit growth
- Technology Risk: Satellite lifespan and replacement costs (potentially $8.2 billion annually) represent significant capital requirements
What's Next for Starlink Investors?
The investment landscape for Starlink and SpaceX continues to evolve. Key developments to watch include:
- SEC approval of Robinhood Ventures Fund I, which could provide easier retail access to SpaceX
- Continued growth in Starlink's subscriber base and revenue, bringing the company closer to IPO readiness
- Updates from Elon Musk regarding IPO timing and structure
- Secondary market valuations that may signal changing investor sentiment
Take Action: Start Your Investment Journey
Ready to gain exposure to the future of satellite internet and space exploration? Whether you're interested in Scottish Mortgage Investment Trust, RIT Capital Partners, or waiting for the Robinhood Ventures Fund I to launch, having the right brokerage platform is essential.
Compare fees, available markets, and features to find the perfect platform for your investment strategy. Don't miss out on the opportunity to participate in one of the most exciting technology companies of our generation.
Key Takeaways
- Starlink cannot be purchased directly as it's a private subsidiary of SpaceX
- SpaceX was valued at $350 billion as of December 2024, with Starlink representing approximately 60-65% of that value
- Scottish Mortgage Investment Trust (SMT) offers the largest public exposure to SpaceX, with it being the trust's biggest holding
- RIT Capital Partners (RCP) provides another London-listed option with a £26.4 million stake in SpaceX
- Robinhood's new Ventures Fund I (RVI) will offer U.S. retail investors access to pre-IPO companies including SpaceX, pending SEC approval
- A Starlink IPO may occur in the coming years once revenue becomes "smooth and predictable"
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Investing in private companies, investment trusts, and pre-IPO funds carries significant risks. Past performance does not guarantee future results. Always conduct your own research and consider consulting with a qualified financial advisor before making investment decisions.