Every SpaceX 10-year forecast circulating right now lands somewhere on a pretty wild scale, from around $470 billion on the low end to well above $10 trillion, with some bulls going all the way to $40 trillion. The spread exists mostly because a real SpaceX valuation forecast 2036 has to price in businesses that are still unproven, things like Starlink valuation growth and an orbital data center economy that barely exists as a commercial product. A SpaceX stock prediction made today is also a bet on whether Elon Musk’s most ambitious promises actually land on schedule, and that is not a small caveat.
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SpaceX Valuation Forecast for 2036: Starlink & Orbital Data Centers
Ron Baron, Raymond James And The $40 Trillion Case
The loudest voices on the bullish end of any SpaceX 10-year forecast right now are Ron Baron and Raymond James. Baron, who runs Baron Capital and put an additional $1 billion into SpaceX shares around the IPO, told CNBC’s Squawk Box:
Ron Baron said:
“This is going to become the largest company on the planet. I think that 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.”
A few days later, on the same network, he added:
“I think that with now being valued at $2 trillion, 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, more than Apple and Nvidia combined. 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%, while increasing payload capacity by an order of magnitude, transforming access to space from a scarce capability into an abundant industrial platform.”
That $800 target is more than twice Morgan Stanley’s and nearly four times Goldman Sachs’. RayJay’s revenue projections for SpaceX reach $837 billion by 2031, against the company’s actual $18.7 billion last year.
Goldman’s Base Case And The Skeptics
A far more measured SpaceX valuation forecast 2036 comes from Goldman Sachs, whose 2030 base case sits near $470 billion, built on xAI revenue and Starlink valuation growth in broadband. Where the bulls assume hypergrowth, Goldman’s SpaceX 10-year forecast model leans on steady execution. New Constructs has pushed back harder still, warning that trillion-dollar assumptions set an “impossible bar” given SpaceX’s capital costs and margin pressure. A good chunk of any higher SpaceX 10-year forecast also depends on the orbital data center economy moving from concept to actual revenue, and that has not happened yet.
Musk’s Own Timeline: Thousands To The Moon And AI Satellites
Elon Musk’s own version of a SpaceX 10-year forecast, shared in a recent interview with Texas Gov. Greg Abbott on Sean Hannity’s radio show, is about as bold as any analyst number. He said SpaceX plans to send “tens of thousands” of people to a lunar base within ten years, something he himself called a “pretty outrageous number given that you know, there’s only about a dozen or so people that have been to the Moon so far.” On the orbital data center economy side, Musk said SpaceX would launch its first “AI satellites” next year, scaling to a large commercial operation within two years. He also described the long-term lunar goal as a “full blown, self-sustaining city on the Moon, like an actual metropolis,” where people could move permanently or visit on vacation.
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Worth noting: the New York Times tracked at least 19 instances of Musk making similar Mars and Moon timeline promises going back to 2011, most of which did not pan out. That track record is part of why traditional analysts treat even the Goldman SpaceX stock prediction as speculative, and why the spread between $470 billion and $40 trillion in the broader SpaceX 10-year forecast is still this enormous right now.