Major SpaceX customer Iridium has set an official target date for its eighth and final Iridium NEXT launch, expected to fly on a flight-proven Falcon 9 Block 5 booster as early as December 30th.
With Iridium-8 now tentatively on SpaceX’s launch manifest, the company’s West Coast schedule appears to have stabilized with two more orbital missions before the end of 2018 – Spaceflight Industry’s SSO-A rideshare mission will aim for the second half of November while Iridium-8 will likely be the last global launch of 2018 if it sticks to its December 30 target.
It’s taken awhile, but finally have a schedule for the final launch #8 of Iridium NEXT! 8:38am pst on December 30th – we’ll have the satellites, SpaceX assures us the flight proven rocket will be ready, and VAFB is ready to ring in the New Year with us! #ThePartyWillBeEpic pic.twitter.com/vQPPeSKm0P
— Matt Desch (@IridiumBoss) October 18, 2018
Iridium CEO Matt Desch was happy to offer a few additional details after tweeting Iridium-8’s targeted launch date and confirmed that – despite original estimates to the contrary – the mission would launch on flight-proven Falcon 9 booster B1049.2. He also stated that the booster would attempt to land on SpaceX drone ship Just Read The Instructions after launch, passing up a Return-to-Launch-Site (RTLS) recovery at the freshly-coronated Landing Zone 4 (LZ-4) due to the significant weight and suboptimal trajectory of Iridium’s payload.
Barring unexpectedly heavy payloads, high-energy orbits, or new launch contracts, it’s probable that Iridium-8 will be the company’s last drone ship rocket recovery on the West Coast for at least a year, if not longer. The only unknown is whether SpaceX needs to or is able to launch during harbor seal pupping season, lasting from March to June – if that environmental concern can be sidestepped or altogether avoided, there may be no reason for Just Read The Instructions to remain in California when the drone ship could instead move to Florida and immediately facilitate faster launch cadence or support Falcon Heavy missions that could benefit from multiple booster landings at sea.
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- B1048 returns to port on drone ship JRTI after its successful July 2019 launch debut. (Pauline Acalin)
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- It’s second landing marked the debut of SpaceX’s LZ-4 landing zone. B1048 may be a prime candidate for SpaceX’s first triple booster reuse. (SpaceX)
According to CEO Elon Musk and other executives, SpaceX is already building a third autonomous spaceport drone ship (ASDS) for the same reasons, to be named A Shortfall of Gravitas (ASOG) upon completion. Earlier this summer, Musk stated that the new vessel could be completed as early as summer of 2019, although he has since also stated that the first full BFR launches may take place on a floating platform somewhere off the coast of the US, increasing the probability of SpaceX delaying ASOG’s construction to allow for future use as both a launch and landing platform.
Probably ships next summer
— Elon Musk (@elonmusk) July 28, 2018
Triple booster reuse on the horizon
Returning to SpaceX’s Q4 2018 Vandenberg launch manifest, its launch of Spaceflight Industry’s SSO-A rideshare mission is expected to occur sometime next month and will likely be SpaceX’s second-to-last launch before the year is out. Notably, SpaceX executive Hans Koenigsmann recently suggested that SSO-A may end up playing host to the company’s first attempt to launch the same Falcon 9 booster three times. All previous Falcon 9 reuses have been the rockets’ second launches and typically saw SpaceX expend the booster in the ocean rather than recover it and attempt refurbishment for a third launch.
Falcon 9 Block 5, however, included a huge number of upgrades to the rocket’s overall stamina and reusability, theoretically raising the number of potential flights per booster from 10-100. Examined generally, moving from two to three flights per booster may seem inconsequential. The reality, however, is that the first true confirmation of the success or failure of SpaceX’s Falcon 9 Block 5 upgrade will be whether a Block 5 booster is able to safely complete three missions and do so with relative ease.
As SpaceX technicians and engineers gradually gain confidence with the new rocket iteration, debuted less than six months ago, the focus will eventually move from cautiously methodical design validation to rapid booster turnaround, eventually culminating in something approximating the 24-hour first stage reuse Musk challenged his company to achieve before 2019 is out. Ultimately, the third launch of a single Falcon 9 Block 5 booster will be the biggest step yet towards SpaceX’s ultimate goal of rapidly and affordably reusable orbital-class rockets.
For prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket recovery fleet check out our brand new LaunchPad and LandingZone newsletters!
The Ontario Teachers’ Pension Plan (OTPP) stands to reap one of the most extraordinary returns in pension fund history thanks to a bold 2019 investment in SpaceX.
According to a recent report from The Globe and Mail, the Toronto-based fund invested roughly $300 million CAD (~$220 million USD at the time) in Elon Musk’s space company as its inaugural deal through the Teachers’ Innovation Platform.
At SpaceX’s anticipated $1.75 trillion IPO valuation, set for a mid-June debut on Nasdaq under ticker $SPCX, that stake could now be worth up to $11.6 billion USD. This would represent a roughly 50x return and easily become OTPP’s most successful single investment ever.
The fund manages $279 billion in assets for approximately 346,000 working and retired teachers in Ontario, potentially delivering an average boost of around $33,500 per member if fully realized.
SpaceX has filed its S-1 and plans to price shares at $135 each, aiming to raise a record $75 billion in what would be the largest IPO in history, surpassing Saudi Aramco. The company reported $18.67 billion in revenue for 2025, driven primarily by Starlink satellite internet growth and NASA contracts, though it continues to post significant losses tied to ambitious R&D in Starship and AI initiatives.
Important pieces moving forward include:
- Starlink Expansion: The satellite broadband service is scaling rapidly, targeting global connectivity, especially in underserved rural and remote areas. This segment offers massive recurring revenue potential as numbers climb.
- Starship and Reusability Leadership: SpaceX’s fully reusable Starship aims to slash launch costs dramatically, enabling frequent missions, Mars ambitions, and lucrative government/defense contracts. Success here could unlock exponential growth.
- AI and Diversification: Recent moves, including ties to xAI, position SpaceX in high-growth AI infrastructure, broadening beyond traditional aerospace.
- Validation Scrutiny: While the $1.75 trillion target excites investors, analysts like Morningstar value the company closer to $780 billion, citing high multiples (around 90x trailing revenue) and execution risks. A 180-day lockup period will prevent early investors like OTPP from selling immediately post-IPO.
The irony has not been lost on observers. Ontario’s government previously canceled a Starlink rural internet contract amid political tensions involving Musk, yet the pension fund’s savvy investment, made when SpaceX was valued around $33-36 billion, and Starlink was nascent, delivers outsized gains independent of politics.
For OTPP, this windfall strengthens its already solid 111 percent funding ratio and underscores the value of patient, innovation-focused capital allocation.
For SpaceX, the IPO marks a new chapter: greater transparency, access to public markets for talent retention and growth capital, and heightened pressure to deliver on its multi-planetary vision.
All eyes are fixed on whether SpaceX can justify its lofty valuation through sustained execution. For Ontario teachers, the returns are already stellar, but SpaceX, like other Musk companies in the past, has plenty of things to prove. Perhaps the most ideal person for the job is at the helm, hoping to bring the company to a massive valuation.
Elon Musk
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
A single line in SpaceX’s amended S-1 just sent Tesla stock down 5% in one day.
A single line buried in SpaceX’s amended S-1 filing is doing more to move Tesla’s stock price than anything Tesla itself has announced in months. The clause, disclosed as SpaceX prepares for what could be the largest IPO in Wall Street history, states that the company “may issue a significant amount of equity in connection with future transactions.” While this may be seen as boilerplate language in S-1 filings, the historical ties between SpaceX and Tesla, and with Elon Musk reportedly discussing a possible merger with close colleagues, investors are interpreting it as something closer to a signal.
The concern among institutional investors like Gary Black, managing director of The Future Fund, pointed directly to the amended filing on X, saying it “strongly suggests more SPCX equity will be issued,” which could potentially be used to acquire Tesla. He estimated such a deal could be 28% dilutive to Tesla shareholders since SpaceX would likely command a significantly higher valuation multiple. Black added that institutional investors he knows hate the idea of a combination because they prefer pure plays over conglomerates, which he said “nearly always gravitate to the lowest common multiple.”
The Tesla and SpaceX merger everyone is talking about is quietly building
The bull case runs the math differently. Tesla influencer and retail shareholder advocate AleXandra Merz pushed back on what she called a widespread misunderstanding of how merger-of-equals deals actually work. Rather than simply splitting the difference between two market caps, a merger exchange ratio is negotiated based on relative fair market values, meaning the lower valued company typically sees its stock reprice upward toward the deal value.
Under her model, SpaceX enters at a $2.5 trillion valuation and Tesla at $1.6 trillion, producing a combined entity worth $4.1 trillion split evenly between both shareholder groups. That implies Tesla’s side of the deal would be valued at $2.05 trillion, a gain of roughly $450 billion from its current market cap. She cited Dow-DuPont and CBS-Viacom as historical examples of how markets reprice both companies toward the announced exchange ratio after a deal is unveiled.
What does a Merger of Equals mean to Elon’s compensation packages?
Well, it changes everything.
Enjoy https://t.co/uekCldyITw pic.twitter.com/kolq1C9qTu
— AleXandra Merz 🇺🇲 (@TeslaBoomerMama) June 1, 2026
The SpaceX S-1 amendments also revealed just how much financial infrastructure already binds the two companies together. As Teslarati has reported, SpaceX purchased $697 million in Tesla Megapacks, $131 million in Cybertrucks, and the two companies have shared supply chain resources, and semiconductor fabrication plans since well before any merger conversation became public. A retail poll by Tesla influencer Sawyer Merritt is finding that 36% of respondents do not plan to buy SpaceX shares at IPO and 15.3% saying their decision depends on the valuation.
Do you plan on buying @SpaceX stock at its IPO?
— Sawyer Merritt (@SawyerMerritt) June 1, 2026
Whether the merger happens or not, the amended filing is seemingly moving markets and sharpened a debate that is no longer theoretical. SpaceX is weeks away from trading publicly, and Tesla shareholders are now watching every word of every filing for clues about what Musk plans to do next.
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
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