Billionaire investor Ron Baron (론 배런), chairman of Baron Capital, voiced strong confidence that SpaceX can become the “planet’s biggest company.” Baron appeared on CNBC’s Squawk Box and said on May 13 he would place a $1 billion buy order for SpaceX shares at its initial public offering.

In the interview, Baron said, “I put in a $1 billion order at the IPO price, and I want to buy more shares at the IPO.” He added, “I don’t know if I will get an allocation, but I will try.” The purchase would further increase Baron Capital’s stake in SpaceX, its largest single position.

Baron Capital has invested about $1.7 billion in SpaceX since 2017, and its current position is about $15 billion. That accounts for more than a quarter of the roughly $56 billion in assets managed by Baron Capital.

Baron underscored Starlink’s expansion of its global internet business and an orbital data centre business as key growth drivers. “Starlink will become global internet,” he said, adding that “in space, free electricity and free cooling are possible, so you can escape the constraints of power and water-cooling costs for ground data centres.”

Both businesses are based on SpaceX’s next-generation launch vehicle Starship. Starship is designed with reusable rocket technology and is built to carry more than 100 tonnes of payload to low Earth orbit.

Baron projected SpaceX’s value could reach $10 trillion to $30 trillion over the next 10 to 15 years. He also indicated that even by a more conservative estimate, that scale could be far lower than disclosed expectations.

SpaceX submitted a confidential S-1 registration statement to the Securities and Exchange Commission on April 1. Major underwriters including Goldman Sachs, JPMorgan, Morgan Stanley, Citi and Bank of America Merrill Lynch presented an IPO valuation of $17.5 trillion to $20 trillion. SpaceX is aiming for a Nasdaq listing, and the roadshow is expected to begin in early June.

At the maximum size based on the offering price, it would raise $75 billion. That would be the biggest IPO on record, far exceeding the $29.4 billion raised by Saudi Arabia’s state oil company Saudi Aramco in 2019.

CEO Elon Musk has been discussing plans to allocate 30 percent of the offering to individual investors. If the deal raises $75 billion, the amount available for individual investors to buy would be about $22.5 billion.

SpaceX’s Starlink unit posted revenue of $9.1 billion in 2025, with an EBITDA margin of 63 percent. Starlink subscribers surpassed 10,000,000 in early 2026. SpaceX’s total 2025 revenue is estimated at about $15 billion to $16 billion, and EBITDA at about $8 billion.