How to Buy Starlink Stock Before the IPO

You’ve heard about Starlink—Elon Musk’s satellite internet service beaming broadband to 4 million subscribers across 100+ countries. You want to invest before it goes public. Here’s the problem: Starlink stock doesn’t exist.

Starlink isn’t a separate company. It’s a division of SpaceX, which means there are no Starlink shares to buy—not on secondary markets, not through pre-IPO platforms, nowhere. If you want exposure to Starlink’s growth, you’re actually asking how to invest in SpaceX. And that comes with its own set of challenges.

This guide explains why Starlink doesn’t have its own stock, whether a spin-off IPO is coming, and what your real options are for getting exposure to satellite internet’s biggest player.

Quick Summary

What Is Starlink?

Starlink is SpaceX’s satellite internet division, launched in 2015 with an ambitious goal: deliver high-speed broadband anywhere on Earth using a constellation of low-Earth orbit (LEO) satellites.

Unlike traditional satellite internet providers that use a handful of geostationary satellites 22,000 miles up, Starlink operates thousands of satellites just 340 miles above Earth. The result is dramatically lower latency—around 20-40 milliseconds compared to 600+ milliseconds for older satellite systems.

Key Starlink metrics:

• 4,500+ satellites deployed and operational
• 4+ million subscribers globally
• 100+ countries with service availability
• $110-199/month residential pricing
• $6-8 billion estimated annual revenue

The service targets rural and underserved areas where traditional broadband isn’t available, but has expanded to maritime, aviation, and mobile applications. Starlink now provides internet to cruise ships, airlines, and RVs.

Why investors are interested: Starlink represents potentially the most valuable piece of SpaceX. While rockets are capital-intensive with thin margins, satellite internet is a recurring revenue subscription business with massive addressable market potential. Some analysts estimate Starlink alone could be worth $100+ billion as a standalone company.

Can You Buy Starlink Stock?

No. There is no such thing as Starlink stock.

Starlink is a wholly-owned subsidiary of SpaceX. It has no separate share class, no independent equity structure, and no stock that trades anywhere—public or private markets.

When you see platforms advertising “pre-IPO” or “private” stock access, they’re selling SpaceX shares, not Starlink shares. Every dollar of Starlink revenue flows to SpaceX. Every share of SpaceX includes exposure to Starlink, along with:

• Falcon 9 and Falcon Heavy rocket launches
• Dragon spacecraft (ISS cargo and crew missions)
• Starship development
• Any future SpaceX ventures

You cannot isolate Starlink exposure. If you invest in SpaceX through secondary markets, you’re buying the whole company—rockets, satellites, and spacecraft together.

The Spin-Off Question

Could Starlink become a separate company with its own stock? Theoretically, yes. Elon Musk has occasionally mentioned the possibility of a Starlink IPO once the business reaches “predictable cash flow.” But there’s been no concrete timeline, no SEC filings, and no formal announcement.

What we know:

• Musk has said SpaceX itself will likely stay private indefinitely
• A Starlink spin-off IPO remains speculative
• No regulatory filings suggest imminent separation
• SpaceX continues to raise capital as a unified entity

Best estimate: There’s no reliable timeline. Some analysts speculate 2026-2028 if Starlink hits $10+ billion in annual revenue. Others believe it will remain part of SpaceX permanently.

Accredited Investor Requirements

Even though you can’t buy Starlink stock specifically, accredited investors can access SpaceX shares (which include Starlink) through secondary markets. But first, you need to qualify.

The SEC defines accredited investors as individuals meeting at least one of these criteria:

Income Test:

• $200,000+ annual income for the past two years (individual), OR
• $300,000+ combined income with spouse
• Reasonable expectation of the same income this year

Net Worth Test:

• $1 million+ net worth, excluding your primary residence

Professional Credentials:

• Series 7, 65, or 82 licenses
• Certain professional designations

Reality Check: Only about 13% of U.S. households qualify as accredited investors. If you don’t meet these thresholds, skip to the “Alternatives for Retail Investors” section—there are legitimate ways to get satellite internet exposure without accreditation.

How to Invest in SpaceX (Which Includes Starlink)

If you’re an accredited investor and understand you’re buying SpaceX (not Starlink separately), here are your options:

Secondary Market Platforms

These platforms facilitate trades in private company shares between existing shareholders and new investors.

Hiive

• SpaceX shares available
• Minimum investment: ~$10,000+
• Fees: 2-5% of transaction
• Recent SpaceX pricing: ~$285/share
• Process: Create account, verify accreditation, browse listings, place orders

EquityZen

• SpaceX shares periodically available
• Minimum investment: ~$10,000+
• Fees: 5-8% of transaction
• 780,000+ registered members
• Process: Apply for access, verify accreditation, join investment opportunities

Forge Global

• SpaceX shares available
• Minimum investment: ~$25,000+
• Fees: 3-6% of transaction
• More institutional focus
• Process: Contact for access, larger transaction sizes

What You’re Actually Buying

When you purchase SpaceX shares on secondary markets, you typically receive:

• Shares in a Special Purpose Vehicle (SPV) that holds SpaceX stock
• Limited voting rights (if any)
• No guaranteed liquidity—you can only sell when buyers exist
• Exposure to all SpaceX businesses, not just Starlink

Important Caveats

Pricing opacity: Secondary market prices are negotiated between buyers and sellers. The “$350 billion valuation” comes from SpaceX’s latest funding round, but your purchase price may be higher or lower depending on demand.

Wide spreads: Bid-ask spreads on private company shares can be 10-20% or more. You might buy at $285/share and find the best offer to sell is $250/share.

Lock-up periods: Some SPV structures restrict when you can sell, potentially locking your capital for years.

Alternatives for Retail Investors

You don’t need accreditation to get exposure to satellite internet or the space industry. Here’s how:

1. Satellite Internet Competitors

If you believe in satellite internet’s future, you can invest in Starlink’s publicly traded competitors:

Viasat (VSAT)

• Market cap: ~$4.6 billion
• Business: Geostationary satellite internet
• Difference from Starlink: Higher latency (600ms+ vs 20-40ms), but established customer base
• Recent price: ~$34/share

Globalstar (GSAT)

• Market cap: ~$7.9 billion
• Business: LEO satellite services, mobile connectivity
• Difference from Starlink: Focus on IoT and mobile, not residential broadband
• Recent price: ~$62/share

EchoStar (SATS)

• Market cap: ~$30 billion
• Business: Satellite services, recently merged with Dish Network
• Difference from Starlink: Broader satellite services, TV focus
• Recent price: ~$30/share

2. Companies Building Competing Constellations

Amazon (AMZN)

• Developing Project Kuiper: 3,236 planned satellites
• Direct Starlink competitor in satellite broadband
• Kuiper is a tiny fraction of Amazon’s overall business
• Recent price: ~$225/share

3. Space Industry ETFs

ARK Space Exploration & Innovation ETF (ARKX)

• Expense ratio: 0.75%
• Holdings: Aerospace and space-related companies
• Important: Does not hold SpaceX or Starlink (they’re private)
• Provides broad space industry exposure
• Recent price: ~$29/share

SPDR S&P Aerospace & Defense ETF (XAR)

• Expense ratio: 0.35%
• Holdings: Boeing, Lockheed Martin, Northrop Grumman
• Traditional aerospace focus
• Indirect space exposure through defense contractors

4. Companies with SpaceX Stakes

Alphabet/Google (GOOGL)

• Invested $900 million in SpaceX in 2015
• SpaceX represents less than 1% of Alphabet’s value
• You’re mostly buying search and cloud, not SpaceX
• Recent price: ~$203/share

Fidelity Blue Chip Growth Fund (FBGRX)

• Has held SpaceX shares valued at $500+ million
• Mutual fund accessible in retirement accounts
• SpaceX is a small percentage of total holdings

Comparison Table

Starlink Valuation: The Unknown Variable

Here’s the frustrating reality: no one knows what Starlink is worth.

Because Starlink has never been valued as a standalone entity, all we have are estimates embedded within SpaceX’s overall valuation.

SpaceX Valuation History

Analyst Estimates for Starlink

Various analysts have attempted to value Starlink separately:

• Morgan Stanley (2020): Estimated Starlink could be worth $100+ billion
• Industry speculation: Ranges from $50 billion to $150 billion
• Revenue multiple approach: At $8 billion revenue and 10x multiple = $80 billion

The problem: These are educated guesses. Without separate financial statements, audited revenue figures, or an actual market price, Starlink’s value remains theoretical.

What this means for investors: If you buy SpaceX at a $350 billion valuation, you’re implicitly betting that the combined value of rockets + Starlink + Starship justifies that price. You can’t precisely calculate what you’re “paying” for Starlink exposure.

Risks of Pre-IPO Investing (SpaceX/Starlink)

Even if you qualify as an accredited investor and accept that you’re buying SpaceX (not Starlink), significant risks remain:

Liquidity Risk: Your Money Is Trapped

Secondary market shares aren’t like public stocks. You can’t sell with a click.

• Finding a buyer can take weeks or months
• You may need to accept a significant discount
• Some SPV structures restrict sales entirely until an IPO
• Treat any investment as locked for 5-10 years

Valuation Risk: The Price May Be Wrong

SpaceX’s $350 billion valuation comes from negotiated deals between sophisticated parties—not an efficient public market with millions of participants.

• Private market valuations can be inflated by hype
• No public price discovery mechanism
• IPO prices often differ significantly from private valuations

Cautionary example: Instacart was valued at $39 billion in private markets in 2021. Its 2023 IPO priced at $9.9 billion—a 75% haircut.

Competition Risk: Starlink Isn’t Alone

Starlink has a head start, but competitors are coming:

• Amazon’s Project Kuiper: $10+ billion committed, 3,236 satellites planned
• OneWeb: 648 satellites operational, backed by Eutelsat
• Telesat Lightspeed: Canadian LEO constellation in development
• Traditional ISPs: Fiber expansion reaching more rural areas

Regulatory Risk: Space Is Getting Crowded

• FCC spectrum allocation could change
• International regulatory approvals vary by country
• Space debris regulations may impose costs
• Astronomical community concerns about satellite visibility

Dilution Risk: More Shares, Smaller Slice

SpaceX continues raising capital for Starship development. Each funding round creates new shares, diluting existing shareholders. Employee stock options add further dilution over time.

When Will Starlink IPO?

Honest answer: Nobody knows, and anyone claiming certainty is speculating.

What Elon Musk Has Said

Musk has occasionally mentioned a Starlink IPO as a possibility once the business achieves “predictable cash flow.” But he’s also said SpaceX itself will likely remain private until there’s a clear path to Mars colonization—which could be decades away.

Translation: Don’t hold your breath.

Signs to Watch For

If a Starlink spin-off IPO were approaching, you’d likely see:

1. Corporate restructuring separating Starlink as a legal entity
2. Audited financial statements for Starlink specifically
3. SEC filings (S-1 registration statement)
4. Investment bank engagement announcements
5. Executive appointments specific to Starlink leadership

None of these have occurred as of this writing.

Historical Context

Musk’s track record suggests patience. SpaceX has been private for over two decades with no IPO timeline. Starlink may follow the same path.

The Bottom Line

You cannot buy Starlink stock because it doesn’t exist.

Starlink is a division of SpaceX, not a separate company with its own shares. If you want Starlink exposure, your options are:

1. Accredited investors: Buy SpaceX shares through secondary markets ($10,000+ minimum), accepting that you’re buying the entire company—rockets, spacecraft, and satellites together.

2. Retail investors: Consider publicly traded alternatives like Viasat (VSAT), Globalstar (GSAT), or Amazon (AMZN) for satellite internet exposure. Or wait for a potential Starlink IPO that may never come.

Reality check: The excitement around Starlink is understandable—it’s genuinely transformative technology. But investing based on excitement rather than access and valuation clarity is how retail investors get hurt. If you can’t buy what you actually want to buy, at a price you can verify, with liquidity when you need it—that’s not an investment opportunity. That’s speculation with extra steps.

FAQ

Can you buy Starlink stock?

No. Starlink stock does not exist as a separate security. Starlink is a wholly-owned subsidiary of SpaceX, meaning there are no Starlink-specific shares available on any market—public or private. Investors seeking Starlink exposure must purchase SpaceX shares, which include all SpaceX businesses.

Is Starlink publicly traded?

No. Starlink is not publicly traded and has no announced IPO timeline. As a division of SpaceX (also private), Starlink shares are not available on any stock exchange. The only way to invest is through SpaceX shares on secondary markets, which require accredited investor status.

How much is Starlink worth?

Starlink has never been independently valued. SpaceX as a whole is valued at approximately $350 billion as of late 2024. Analyst estimates for Starlink’s standalone value range from $50 billion to $150 billion, but these are speculative since Starlink doesn’t publish separate financial statements.

When will Starlink go public?

There is no confirmed IPO timeline for Starlink. Elon Musk has mentioned the possibility of a Starlink IPO once the business achieves predictable cash flow, but no formal plans, SEC filings, or corporate restructuring have been announced. Speculation ranges from 2026-2028 to never.

How can I invest in Starlink as a retail investor?

Retail investors cannot invest directly in Starlink. Alternatives include: (1) publicly traded satellite internet competitors like Viasat (VSAT) or Globalstar (GSAT), (2) Amazon (AMZN), which is building the competing Project Kuiper constellation, (3) space industry ETFs like ARKX, or (4) waiting for a potential Starlink or SpaceX IPO.

What’s the difference between investing in SpaceX and Starlink?

There is no difference currently—they’re the same investment. Starlink is part of SpaceX, so buying SpaceX shares gives you exposure to Starlink along with Falcon rockets, Dragon spacecraft, and Starship development. You cannot isolate Starlink exposure from SpaceX’s other businesses.

Sources

• SEC: Accredited Investor Definition, Rule 501 — https://www.sec.gov/education/capitalraising/building-blocks/accredited-investor
• Hiive: Secondary market platform and SpaceX pricing data — https://hiive.com
• EquityZen: Private market investment platform — https://equityzen.com
• Forge Global: Secondary market data — https://forgeglobal.com
• ARK Invest: ARKX ETF information — https://ark-funds.com/arkx
• Yahoo Finance: VSAT, GSAT, SATS, AMZN pricing — https://finance.yahoo.com
• CNBC: “Instacart IPO Prices at $10 Billion” (September 2023) — https://www.cnbc.com/2023/09/19/instacart-ipo-stock-starts-trading-on-the-nasdaq.html
• SpaceX/Starlink: Official service information — https://starlink.com