SpaceX Spent $15bn on Starship, Filing Reveals

SpaceX has spent more than $15bn developing its next-generation Starship rocket, according to the company’s IPO filing reviewed by Reuters, a sum that far exceeds the cost of its workhorse Falcon 9.

The investment, which has not previously been reported, highlights how central Starship is to the company’s future as it moves toward a potential public listing at a valuation of about $1.75tn.

Starship is designed to enable larger launches of Starlink satellites as well as missions to the Moon and Mars, and could eventually support the deployment of space-based computing infrastructure.

The program now accounts for the bulk of the company’s development spending. SpaceX devoted about $3bn to research and development in 2025 for its space segment, all of it directed at Starship, up from $1.8bn the previous year, as part of more than $15bn invested in the program over the past decade.

Despite progress in testing, including advances in reusability, major technical challenges remain. They include building the ground infrastructure needed to support frequent launches, developing a heat shield capable of repeated re-entry and demonstrating in-orbit refueling.

“In-orbit refueling is complex, and we have not yet demonstrated or attempted it”, SpaceX said.

Experts say the program is nearing a critical stage but warn that its reliability at scale has yet to be proven.

“They’re getting really close”, said Chris Quilty, president of Quilty Space. “But what we still don’t know, and won’t know for a while is, can they do it repeatedly?”

SpaceX is preparing a new prototype, Starship V3, which is expected to incorporate significant upgrades and support more advanced test missions.

(reuters, bak)