- SpaceX 10-year valuation forecasts range from approximately $470 billion to $40 trillion, driven by unproven businesses like Starlink and orbital data centers
- Ron Baron and Raymond James lead the bullish case, predicting SpaceX could be worth $10–$40 trillion within a decade
- Goldman Sachs offers a far more conservative base case near $470 billion, citing steady execution over hypergrowth
- Elon Musk claims SpaceX will send tens of thousands of people to a lunar base within ten years, alongside launching AI satellites as soon as next year
Every SpaceX 10-year forecast circulating right now lands somewhere on a wild scale, from around $470 billion on the low end to above $10 trillion, with some bulls reaching $40 trillion. The spread exists because any real SpaceX valuation forecast for 2036 must price in businesses that remain unproven, such as Starlink valuation growth and an orbital data center economy that barely exists commercially.
Ron Baron and Raymond James represent the loudest voices on the bullish end of this forecast. Baron told CNBC’s Squawk Box: “This is going to become the largest company on the planet. I think the company over the next 10 or 15 years is going to be worth $10 trillion, $20 trillion, $30 trillion, and I could be very low.” He later added: “I think it’s going to be valued in 10 years at $20 trillion, $30 trillion, $40 trillion.”
Raymond James initiated coverage with an $800 price target and a Strong Buy rating, implying a market cap well north of $10 trillion. Their analysts Brian Gesuale and Ryan Rackley wrote: “Starship represents the defining industrial innovation of our generation. Starship reduces the cost of transporting mass to orbit by more than 99%, transforming access to space into an abundant industrial platform.” RayJay’s revenue projections for SpaceX reach $837 billion by 2031, against the company’s actual $18.7 billion last year.
Goldman Sachs offers a far more measured SpaceX valuation forecast, with a 2030 base case near $470 billion built on xAI revenue and Starlink valuation growth. Meanwhile, a good chunk of any higher SpaceX 10-year forecast depends on the orbital data center economy moving from concept to actual revenue, and that has not happened yet.
Elon Musk himself shared a bold timeline, claiming SpaceX plans to send “tens of thousands” of people to a lunar base within ten years, according to a Forbes report. He also said SpaceX would launch its first AI satellites next year and described the long-term goal as a “full blown, self-sustaining city on the Moon.” However, the New York Times tracked at least 19 instances of Musk making similar Mars and Moon timeline promises since 2011, most of which did not pan out.
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