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SpaceX returns Starship booster to factory after two major Raptor tests
For the sixth time this year, SpaceX has returned the same Super Heavy booster prototype to its South Texas Starship factory after completing several tests.
Why is unclear. Super Heavy Booster 7 left the factory for the first time in March 2022 and has been stuck in a seemingly continuous state of testing, rework, and retesting ever since. While the pace of testing and progress was in many ways more aggressive from 2019 to mid-2021, it still can’t be said that SpaceX has been slacking off in 2022. Booster 7 alone completed more than 24 distinct tests (including six static fires) between early April and late November.
But in a shift from the first three or so years of steel Starship development, SpaceX CEO Elon Musk has ceased to be a consistent source of information on the purpose and results of many of those tests, even as NASA has begun to funnel hundreds of millions of taxpayer dollars into the Starship program. Save for occasional tidbits from SpaceX, Musk, and NASA; or deep unofficial analyses of public information, the day-to-day or week-to-week status of Starship has generally been relegated to speculation. Over the last few months, that information void has only grown larger.
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
Perhaps the biggest near-term update this year came from a senior NASA official on October 31st. In an advisory briefing, Mark Kirasich – Deputy Associate Administrator for Artemis Campaign Development – offered a surprising amount of detail about SpaceX’s near-term plans and even reported that Starship’s first orbital test flight was expected as early as December 2022, pending several crucial tests. But more than five weeks later, SpaceX appears to have only made a modest amount of progress towards those milestones and has yet to attempt the two most important tests.
Kirasich: First orbital Starship/Super Heavy expected in December. Still waiting for full 33 engine test, wet dress rehearsel, and FAA licensing. Will land in ocean off Hawaii. pic.twitter.com/FktCggnPEe— Marcia Smith (@SpcPlcyOnline) October 31, 2022
Nonetheless, some progress – however indeterminate without official information – has been made. As of Kirasich’s briefing, SpaceX was in the middle of a relatively minor series of cautious propellant loading tests with Booster 7 and Ship 24, which were stacked on October 20th. After three more partial full-stack tests in the first seven days of November, Ship 24 was removed. Aside from the visible steps SpaceX took after, little is known about the outcome of those propellant loading tests.
Ship 24’s fate is a different story, but Super Heavy B7 appeared to make it through full-stack testing in great shape. On November 14th, Booster 7 completed a record-breaking 14-engine static fire, doubling its previous record of seven engines and likely becoming one of the most powerful rockets in history. Musk simply stated that the “test went well”.
Poor weather undoubtedly contributed, but it would be another 15 days before Booster 7’s next test. On November 29th, after an aborted test on the 28th, SpaceX followed Booster 7’s record-breaking 14-engine static fire with a longer 13-second test of 11 Raptors. Before engine ignition, SpaceX loaded Booster 7 with around 2800 tons (~6.2M lb) of liquid oxygen (LOx) propellant in less than 90 minutes, making it a partial wet dress rehearsal (the methane tank was barely filled) as well. Musk called it “a little more progress towards Mars” and SpaceX shared a photo of the static fire on Twitter, but the results of the test – meant “to test autogenous pressurization” – were kept mostly opaque.
That uncertainty didn’t help when two of Booster 7’s 33 Raptor engines were removed immediately after the long-duration test. Then, Booster 7 was removed from Starbase’s lone ‘orbital launch mount’ on December 2nd and rolled back to the factory’s High Bay assembly facility on December 3rd. Historically, SpaceX has only returned Booster 7 to the factory to repair damage or install missing hardware. Without official information, it’s impossible to say why Booster 7 returned for the sixth time.
The most optimistic explanation is that SpaceX brought the Super Heavy booster back to the factory to fully close out its engine section heat shield, which currently has 20 missing panels for each of its outer Raptor engines. But there’s a good reason that those panels were never reinstalled. Any replacements would need to be modified to ensure that the ad-hoc system installed to prevent the conditions that led to Booster 7’s first explosion from recurring can still be used for future static fire tests. Even then, it’s unclear why SpaceX would need to reinstall those panels now for Booster 7’s upcoming 33-engine static fire(s) and full-stack wet dress rehearsal(s) when they weren’t needed for 11 and 14-engine static fires and a dozen other fire-free tests.
Depending on why Booster 7 is back at the factory, there is a precedent for it returning to the launch site as early as next week. Alternatively, if major work or repairs are required, it could be six weeks before SpaceX returns the rocket to the launch pad. Given that the full wet dress rehearsals and one or several 33-engine static fires standing between Booster 7 and flight readiness will be riskier and more challenging than any other test the prototype has completed to date, there is no real chance that Starship will be ready for its first orbital launch this year.
In fact, without detailed information, especially regarding Ship 24’s mysterious state, it’s difficult to pinpoint a viable target for Starship’s orbital launch debut more specific than the first half of 2023. But with any luck, even if it requires a substantially longer wait, SpaceX’s recent decision to make Starbase move slower and break fewer things will hopefully pay off with a successful debut sometime next year.
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
