SpaceX Is Capitalism’s Greatest Vindication

Elon Musk’s SpaceX has launched the largest ever public offering of stock today, selling $75 billion worth of shares.

SpaceX emphasised its remarkable achievements in its IPO filing: ‘We are the primary launch provider for the US government. In 2025, we launched 11 of 12 National Security Space Launch (‘NSSL’) medium and heavy lift missions and all five U.S. crew and cargo missions to the International Space Station for NASA.’

The company is best known for building reusable rockets, and for dramatically reducing the cost of satellite production and rocket launches. Since 2023, SpaceX says it has launched more than 80% of the world’s mass to orbit each year, with an over 99% mission success rate on its Falcon rockets. Certainly an extraordinary achievement for a private company in a sector once dominated by government space agencies.

However, its business activities extend far beyond launching satellites and cargo into orbit. Through Starlink, its low-Earth-orbit satellite internet network, the company has become a leading provider of telecommunications infrastructure. SpaceX has over 9,600 Starlink broadband and mobile satellites in low-Earth orbit, providing internet connectivity to approximately 10.3 million Starlink subscribers across 164 countries, territories, and other markets.