SpaceX the Easiest Double on the Planet
S Private Markets • Issue 04 • Q4 2025 • Investor Memo LIVE VALUATION • CONFIDENTIAL RUN-RATE $120B ARR • +98% YoY • Starship Milestone Achieved ↗ SpaceX Implied Valuation $4.4T The orbital economy is no longer a narrative. It’s a P&L. SpaceX has quietly become the first vertically integrated telecom + compute + logistics…
