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SpaceX continues to achieve key milestones in 2025. SpaceX brought two NASA astronauts, Butch Wilmore and Suni Williams, successfully back to Earth from the International Space Station in March. The company is also planning to send astronauts on a first-ever polar orbit to conduct research experiments, which include studying the aurora borealis. Additionally, the company’s increasingly popular Starlink subsidiary continues to expand, most recently landing a deal to supply United Airlines flights with Wifi. If you would like to invest in this company, here’s what you should know.
A financial advisor can help you analyze which companies are the best fit for your investment portfolio and long-term goals.
What Does SpaceX Do?
SpaceX is an aerospace firm founded by Elon Musk. It’s fair to say that the company has both a big picture aspect and a practical one.
From a big-picture perspective, Musk has said that he would like SpaceX to contribute to the future of human space travel. He hopes that this company will, eventually, take people to Mars and begin colonizing the planet. From an investor’s standpoint this larger vision resembles the footprint of a nonprofit corporation, in which the organization spends money to achieve the mission, rather than the for-profit model of building the mission around revenue.
But make no mistake, SpaceX has an imminently practical side as well. This company has grown into a major aerospace contractor, reducing costs and developing efficient, reusable spacecraft. In fact, at time of writing, it’s one of the few companies in the United States that can manage space flight.
Among other operations, SpaceX’s business includes:
- Government manufacturing contracts to build rockets
- Government services contracts to transport astronauts
- Private services contracts to transport individuals
- Government and private services contracts to launch satellites
- Government and private high-speed internet through Starlink
Founded in 2002, SpaceX reportedly began to show a profit in the early 2020s. Reporting suggests that the company made somewhere between $200 million and $3 billion in profits in 2023. NASA’s decision to abandon its own shuttle program, outsourcing launches to private contractors, has opened up opportunities in space flight. Boeing’s growing troubles have only made those opportunities greater.
SpaceX may be the right company at the right time. However, there are still questions. Third party reporting indicates that SpaceX makes little, if any, money off its space program. Instead, all profits appear to come from the company’s Starlink service. This service, in turn, may not actually be as profitable as it appears, as reporting by Bloomberg suggests that Starlink may have higher costs and debts than the company has disclosed. (To be clear, as a private company Starlink has no duty to publicly disclose its revenue, costs, debts or other related figures. This is why much of the company’s financial figures require speculation.)
Some recent reporting finds that SpaceX has a current value of around $200 billion. There are no current plans for an initial public offering (IPO), and given SpaceX’s noncommercial goals, a public offering is unlikely.
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SpaceX Is Privately Held
SpaceX is a privately held company, meaning that its stock is not listed on any public or regulated exchange, and ordinary retail investors cannot directly invest in SpaceX in most cases. It also does not have to file reports or other disclosures with the Securities and Exchange Commission (SEC), as required of publicly traded companies.
As a private company, only accredited investor or institutional investors can freely trade shares of SpaceX stock. Retail investors can generally qualify as an accredited investor if they earn an average of $200,000 or more per year, have $1 million or greater net worth, or otherwise have certain finance certifications. Then, you can only buy this stock through a private transaction with existing shareholders and, even if you could find someone willing to sell, those transactions are restricted.
How to Get Indirect Investment Exposure to SpaceX
For most individual investors, typically the best way to invest in a private company is through indirect exposure. This is the practice of investing in the companies and assets that are linked to a private company’s fortunes in some way. You would find assets that will rise and fall based on the success or failure of the private company, and then invest accordingly.
In the case of SpaceX, you have a few options. While an IPO for SpaceX itself is highly unlikely, Elon Musk has previously alluded to the potential of long-term investors in his other companies, such as publicly traded Tesla, getting priority if SpaceX’s Starlink service were to IPO in the future.
You can invest in telecommunications. Although Starlink is a direct competitor to many internet services, both it and SpaceX act as essential infrastructure for telecommunications.
Teleconferencing, phone calls and any other form of direct communication could benefit from Starlink’s goal of global high-speed internet. If more people are able to access the internet who otherwise previously could not, those companies’ total addressable market (TAM) may increase, potentially bringing in additional revenue streams. Additionally, any company that depends on putting satellites into orbit will benefit from SpaceX’s goal of cheaper, more efficient space flight.
Another option is to invest in companies that rely on spaceflight and rocket design. Again, this is a broad range of firms. Some, like Virgin Galactic (SPCE), want to commercialize space travel itself. They will rely on the kind of rockets that SpaceX wants to build. Others, particularly in the defense space, may rely on those rockets and their underlying technology to power future transportation and military systems. All can likely to benefit if SpaceX can continue to build its rocket program successfully.
Then there is fund investing. It is uncommon for public funds to offer private assets, but it does happen. As an investor you can look for funds like the publicly listed Destiny Tech100 mutual fund, which reportedly holds shares of SpaceX along with several other private firms. By looking for mutual funds and ETFs that hold private shares, you can get as close to direct investment as a non-accredited investor can to direct investment.
How to Determine If You Should Add SpaceX Exposure to Your Portfolio
Since SpaceX is a private company, most investors cannot buy stock directly. That makes the question less about whether to purchase SpaceX shares and more about how to gain exposure to the company’s growth, and whether that exposure fits your portfolio.
The first step is to look at access. Accredited investors may occasionally be able to purchase private shares through secondary markets or funds that specialize in private equity. These opportunities are rare and often illiquid, meaning you could be locked into the investment for years. For most retail investors, indirect exposure through public markets is the only realistic option.
Indirect exposure can come in several forms. Public companies like Tesla, telecommunications firms, satellite operators, and defense contractors may all benefit from SpaceX’s progress. Certain mutual funds or ETFs, such as those focused on innovation or private equity, may also hold shares of SpaceX or companies closely tied to its operations. While this approach does not replicate direct ownership, it allows you to participate in some of the upside linked to SpaceX’s growth.
The next step is deciding how much exposure makes sense. Space-related investments are concentrated in technology and aerospace, which can be volatile. A small allocation—enough to benefit if the industry expands, but not enough to destabilize your investment portfolio—may be a reasonable approach for growth-oriented investors. If you already have significant holdings in tech or high-growth companies, adding more exposure to the same area could leave you overconcentrated.
Finally, think about your objectives. If your portfolio is built around long-term growth and you can have a high risk tolerance, adding exposure through related companies or funds may be worth considering. If your focus is income, capital preservation, or liquidity, the case for SpaceX exposure is less compelling.
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Bottom Line
SpaceX is Elon Musk’s aerospace company that operates rocket launches, satellite launches and Starlink internet service. It is a privately held company, meaning individual investors cannot freely invest. Accredited investors that meet the income and asset qualifications may be able to invest privately. Or retail investors may be able to get indirect exposure to SpaceX via other companies.
Tips for Private Investing
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