Elon Musk’s Starlink is unlikely to see an initial public offering until at least 2025 and even that time frame is tentative, the billionaire entrepreneur conceded.

On Tuesday, CNBC reported that Musk, the world’s wealthiest man and CEO of Starlink’s parent company SpaceX, issued a memo to employees that contained his predictions on when the satellite internet service may see its own IPO launched. According to Musk, that outcome depends on the stability of the company’s future business.

“I’m not sure exactly when that [IPO] is, but maybe it will be like – I don’t know, just guessing – three or four years from now,” Musk said at an all-hands meeting of SpaceX employees last Thursday.

Musk's assessment echoes his previous prediction that Starlink would only go public once it established a more predictable cash flow. Last June, Musk posted on Twitter that going public sooner than that would be "very painful" and that it would be years before it reached a point where it was suitable for an IPO.

Starlink, which is currently operated by space exploration firm SpaceX, allows users to connect to the internet via a satellite dish that is placed on or near their property. From there, the internet is beamed down via Starlink satellites orbiting the Earth.

Musk has made it clear that he envisions Starlink’s satellites taking a central role in his space exploration ambitions. He has said that Starlink would be a critical source of funds for his plans to send travelers to Mars and that it would enable far more internet coverage for far-flung communities that may lack adequate access.

To date, Starlink has launched more than 2,000 functional orbiting satellites and offers service in 32 countries. Most recently, Starlink has proved to be a crucial tool during the war in Ukraine, where it has helped keep the country connected to the internet in the face of electronic warfare emanating from Russia.

RELATED STORIES
Elon musk Spacex