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SpaceX’s Starship rocket sails through first “flight-like” fueling test
SpaceX’s fully-assembled Starship rocket appears to have sailed through a major wet dress rehearsal test on the first attempt.
With the completion of that test, the next-generation SpaceX rocket has taken a big step toward its first orbital launch attempt. Starship measures around 120 meters (~394 ft) tall and 9 meters (~30 ft) wide, making it the largest rocket ever assembled. It’s designed to launch more than 100 metric tons (~220,000 lb) to low Earth orbit (LEO) in a fully-reusable configuration. At liftoff, Starship’s 33 Raptor engines will produce up to 7590 tons (16.7M lbf) of thrust, making it more powerful than any rocket in history by a large margin.
And on Monday, January 23rd, Starship likely became the heaviest rocket ever after SpaceX fully loaded the vehicle with propellant. Surprising most viewers, SpaceX also appeared to complete the complex test associated with that milestone without running into any major issues.
The update that's rolling out to the fleet makes full use of the front and rear steering travel to minimize turning circle. In this case a reduction of 1.6 feet just over the air— Wes (@wmorrill3) April 16, 2024
The apparent success is surprising because it simply hasn’t been SpaceX’s approach of choice while developing Starship. Since SpaceX began assembling Starhopper in an empty Texas field in 2018, the Starship program has been almost exclusively managed to prioritize speed and expect failures. The company almost always preferred to build, test, and learn from minimum-viable-product prototypes as quickly as possible, even if that meant that failures were guaranteed.
Because SpaceX expected failures, it learned from them and always had another prototype ready to carry the torch forward. Starship prototypes rarely completed ground or flight tests on the first try, as SpaceX was simultaneously learning – often catastrophically – how to test and operate those vehicles. The culmination of that failure-as-an-option strategy was a series of seven suborbital Starship tests – two short hops of identical prototypes and five launch and landing attempts of five more advanced prototypes between August 2020 and May 2021. On the fifth attempt, after four failures, a full-scale Starship successfully launched to 12.5 kilometers (~41,000 ft), shut off its engines, fell back to Earth, reignited its engines, flipped around, and landed in one piece.
By all appearances, the campaign was the ultimate corroboration of SpaceX’s development strategy. In the second half of 2022, however, SpaceX decided to dramatically change the Starship program’s approach to risk management and systems engineering. Starship testing has become exceptionally cautious over the last several months, as a result.
From fail-fast to slow-and-steady
There is a small chance SpaceX simply got lucky, but Starship’s first fully-assembled wet dress rehearsal test appears to indicate that that caution has paid off. Combined, both stages of the rocket – Ship 24 and Booster 7 – collectively completed dozens of separate proof tests and static fires since mid-2022. They also made it through several far more limited tests while stacked.
Having cautiously characterized each prototype about as well as it possibly could, SpaceX finally pulled the trigger on January 23rd. After hours of conditioning the Starbase, Texas orbital launch site’s giant tank farm, SpaceX opened the floodgates and loaded Ship 24 and Booster 7 with up to 4860 tons (~10.7M lbs) of cryogenic liquid oxygen and liquid methane propellant in about 90 minutes. Once fully loaded, the combined weight of the rocket and propellant likely exceeded 5000 tons (~11M lbs), making Starship the heaviest rocket in history. The next heaviest rockets ever built, Saturn V and N-1, weighed around 2800 tons (~6.2M lbs) fully loaded.
SpaceX was also able to drain Starship and return its propellant to the pad’s ground storage tanks about four hours after filling the rocket.
“Flight-like” testing
The company later confirmed that the test was a “full flight-like wet dress rehearsal,” as suspected, and noted that data gathered from it would “help verify a full launch countdown sequence, as well as the performance of Starship and the orbital pad for flight-like operations.” Parts of the test visible from unaffiliated webcasts like NASASpaceflight’s seemed to confirm as much. Shortly after Starship was fully loaded, for example, SpaceX activated the orbital launch mount’s fire extinguisher system, seemingly practicing the moments before the rocket would otherwise ignite its engines and take flight.
At no point during the wet dress rehearsal did SpaceX appear to enter any kind of hold or abort, indicating that the rocket’s systems were all working well enough together to smoothly complete it on the first try. The only mildly concerning behavior visible during the multi-hour test came shortly after Starship was topped off. Booster 7 opened one of its methane tank gas vents to relieve pressure and instead appeared to vent liquid methane, producing a flammable cloud thousands of feet long. More likely than not, the Super Heavy was slightly overfilled, and the liquid vent was an intentional response to that error. The cloud of methane thankfully did not find an ignition source, and Starship went on to finish the test as planned.
SpaceX has a lot of work left to prepare Ship 24 and Booster 7 for Starship’s first orbital launch attempt. Booster 7 must still complete one or several more static fires, during which it could become the most powerful rocket ever tested. To reduce risk, SpaceX will likely remove Ship 24 while testing Super Heavy, and reassemble the rocket only if Booster 7 passes its tests. SpaceX also needs to repair the pad after static fire testing and work with the Federal Aviation Administration (FAA) to finalize Starship’s first orbital launch license.
But after many false positives, Starship’s successful completion of a wet dress rehearsal on the first try has confirmed that the rocket’s orbital launch debut is – for the first time – actually close at hand.
Renowned investor Ron Baron, founder and CEO of Baron Capital, has once again demonstrated his unwavering faith in Elon Musk’s ventures.
Just after SpaceX’s record-breaking IPO, Baron announced he purchased an additional $1 billion in SpaceX (NASDAQ: SPCX) shares. This move pushes Baron Capital’s total holdings in the company to a staggering $25 billion in market value, underscoring one of the most successful private-to-public investment stories in recent history.
Baron’s relationship with SpaceX dates back to 2017, when his firm began investing approximately $1.75–2 billion through secondary markets and employee tender offers at valuations around $20–22 billion.
By the time of the IPO, which valued SpaceX at over $2 trillion with shares closing near $161, those early stakes had generated more than $13 billion in unrealized gains. Post-IPO, Baron’s position ballooned further, reflecting the company’s meteoric rise driven by reusable rocketry, Starlink’s global satellite internet constellation, Starshield defense applications, and ambitious plans for orbital infrastructure.
In a recent interview, Baron articulated his bullish outlook with characteristic enthusiasm.
Ron Baron said today that he bought $1 billion of @SpaceX IPO shares last Friday, and said that all of Baron Capital’s $SPCX holdings are now worth $25 billion.
“I think we’re going to make hundreds of billions of dollars; If you read the prospectus, you realize what they… pic.twitter.com/U8F471KtJS
— Sawyer Merritt (@SawyerMerritt) June 15, 2026
“I think we’re going to make hundreds of billions of dollars,” he stated, emphasizing that SpaceX’s achievements in rocketry and satellite technology are “not possible for anyone else to accomplish.” He envisions the company as a cornerstone of humanity’s multi-planetary future, potentially reaching valuations of $10–30 trillion within 10–15 years.
Baron has repeatedly affirmed he has no plans to sell, viewing SpaceX as a “lifetime investment” alongside Tesla.
Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA
This conviction stems from SpaceX’s unparalleled execution. The company has revolutionized access to space with Falcon 9 reusability, deployed thousands of Starlink satellites, and is advancing Starship for Mars missions and point-to-point Earth transport.
Baron highlights emerging opportunities like space-based AI data centers and direct-to-cell satellite connectivity, positioning SpaceX at the forefront of a new space economy projected to generate trillions in value.
Critics may question the lofty projections amid high valuations and execution risks, but Baron’s track record speaks volumes. His Tesla holdings, initiated in the mid-2010s, have also delivered outsized returns. As one of the largest institutional holders of SpaceX pre-IPO, Baron Capital’s funds, such as Baron Partners, benefited immensely from valuation markups.
Baron’s $1 billion IPO purchase signals deep confidence in SpaceX’s post-IPO trajectory. In an era of short-term market noise, his strategy exemplifies patient capital: backing visionary leadership and transformative technology.
For investors watching the space sector, it serves as a powerful endorsement that the final frontier may indeed yield the next great wealth-creation engine. As Baron puts it, SpaceX isn’t just building rockets—it’s trying to “save humanity” by expanding our horizons beyond Earth.
SpaceX and Tesla, the two flagship companies under Elon Musk’s leadership, share a commitment to groundbreaking technology yet pursue dramatically different paths in how they connect with customers.
Tesla has built its brand through a philosophy of minimal traditional advertising, trusting that exceptional products will generate their own momentum.
SpaceX, by contrast, has embraced high-visibility paid advertising for its Starlink satellite internet service, placing prominent spots during major live sporting events such as the Super Bowl and the recent UFC Freedom 250. This divergence highlights how each company tailors its marketing to the unique demands of its products and target markets.
Tesla’s approach stems directly from Musk’s long-held conviction that superior engineering sells itself. Musk has repeatedly explained that the company redirects resources into research and development rather than endorsements or television commercials.
Tesla’s growth has relied instead on organic channels: enthusiastic owner referrals, viral product reveals like the Cybertruck, extensive media coverage of launches and achievements, and the sheer visibility of its vehicles on roads everywhere.
Even as the company has tested more social media promotions in response to fluctuating demand, its overall strategy remains restrained and digital-focused compared to legacy automakers that pour hundreds of millions into marketing annually.
SpaceX has taken a more assertive route with Starlink to drive widespread consumer awareness. In February of this year, SpaceX aired its first-ever Super Bowl advertisement, marking the initial time any Musk-led enterprise invested in the massive event.
The thirty-second spot emphasized fast and affordable internet available nearly anywhere on the planet, blending inspiring footage of Falcon 9 and Starship landings with narration drawn from science fiction visionary Arthur C. Clarke. United Airlines complemented this with its own Super Bowl commercial showcasing Starlink-enabled high-speed Wi-Fi on flights.
🚨 Starlink Super Bowl ad! https://t.co/pEdH1KevBj pic.twitter.com/01onakkoqX
— TESLARATI (@Teslarati) February 9, 2026
But that is not all SpaceX has done to get word out about its internet service.
Just last night, Starlink branding appeared prominently on the octagon and during the broadcast of UFC Freedom 250, the high-profile event staged on the White House South Lawn. These placements represent a strategic investment in reaching massive, engaged audiences.
🚨 Starlink ads have appeared on the UFC Freedom 250 broadcast on Paramount+ pic.twitter.com/VPAAhDR6LI
— TESLARATI (@Teslarati) June 15, 2026
The rationale behind SpaceX’s advertising push lies in Starlink’s distinct position as a consumer broadband service. Unlike Tesla’s visually striking cars that act as mobile billboards for early-adopter enthusiasts, Starlink must overcome awareness gaps in rural, remote, and mobile markets where traditional internet infrastructure falls short.
Starlink now serves as SpaceX’s leading revenue generator, with ambitions tied to future growth and potential public offerings. Targeted advertising during sports broadcasts efficiently demonstrates real-world reliability for applications ranging from home connectivity to aviation and live event broadcasting.
Partnerships with airlines and mobile providers further extend its reach, while high-profile placements help convert curiosity into subscriptions amid competition and regulatory considerations.
Ultimately, these contrasting strategies reflect the different maturity levels and competitive landscapes each business navigates. Tesla benefits from built-in visibility and a passionate community that amplifies its message at little cost.
Starlink, operating in the more fragmented broadband sector, requires deliberate efforts to educate and attract mainstream users. By leveraging the spectacle of major sporting events where Tesla once declined to participate, SpaceX is accelerating Starlink toward global ubiquity.
This flexibility underscores a key lesson: even the most innovative companies must adapt their tactics to the practical realities of their markets and customer acquisition challenges.
Elon Musk
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
SpaceX priced its historic IPO at $135 per share today, raising a record $75 billion.
SpaceX officially priced its initial public offering at $135 per share, offering 555,555,555 shares of Class A common stock and raising $75 billion in what is the largest IPO in stock market history. Shares are set to begin trading on the Nasdaq Global Select Market on Friday, June 12, under the ticker symbol SPCX. The previous record holder was Saudi Aramco’s 2019 offering at $29 billion, followed by Alibaba’s $22 billion offering in 2014.
At $135 per share and roughly 555.6 million shares, the implied valuation sits near $1.75 trillion, which would make SpaceX roughly the seventh largest company in the United States, just above Tesla’s current market cap. Regular investors can request shares at the IPO price through Robinhood, Fidelity, Charles Schwab, SoFi, and E*TRADE, though the deal is heavily oversubscribed and most retail allocations will be partial or unfilled. Once trading opens June 12, anyone with a brokerage account can buy SPCX on the open market.
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
The valuation is anchored primarily by Starlink. Starlink crossed 10 million subscribers as of February 2026 and is adding 750,000 to 1.5 million new users per month, with the connectivity segment already posting a $1.19 billion profit last quarter. The offering also bundles in xAI following SpaceX’s all-stock merger earlier this year, adding Grok and the Colossus supercomputer to the investment thesis. As Teslarati reported, Starlink ended 2025 with $10 billion in revenue, a figure analysts project could reach $24 billion by end of 2026.
Wedbush analyst Dan Ives has been vocal in his support. “I think the time is right,” Ives said, adding that the offering expands the Elon Musk ecosystem rather than competing with Tesla. An average 12-month price target of $165 per share represents roughly 22% upside from the IPO price. Not everyone agrees – Motley Fool noted xAI is spending $1 billion per month playing catch-up to OpenAI and Anthropic.
Musk founded SpaceX in 2002 with a single stated purpose. “Elon founded SpaceX with a goal to change humanity, to make us a multi-planet species,” CFO Bret Johnsen said in the company’s retail roadshow video this week. Musk himself has been more direct: “We are building the systems and technologies necessary to provide global connectivity on Earth and beyond, to understand the true nature of the universe, and to extend the light of consciousness to the stars.”
Musk’s biggest bettor Ron Baron reveals massive SpaceX IPO bet
SpaceX maintains bold advertising push for Starlink, contrasting Tesla’s minimalistic approach
