Ron Baron told Elon that Starlink alone could be worth $15 trillion. All of SpaceX trades under $2 trillion. Then he admitted even that is probably too low. His math: Starlink doing “a trillion dollars in revenues,” “seven or eight hundred billion dollars in EBITDA in 10 years,” and “worth 14 or 15 trillion.” Today the whole company, rockets and xAI included, is worth less than two. His frame: “Now I think we’re probably really way low on how much Starlink can be worth.” Because now SpaceX has space data centers too. Elon didn’t push back. He added: “Starlink revenue is growing very rapidly. It’s like you’re roughly doubling revenues per year at large scale.” Then the line that matters: “AI does exceed that. With AI you have order of magnitude per year growth potential.” Starlink at $15T is the conservative case.