Business · Companies · 2 hrs ago
Verizon CEO says SpaceX may need $500 billion to rival wireless carriers
Verizon CEO Dan Schulman says SpaceX would need $500 billion to build a serious wireless rival.
The plan involves SpaceX, the company led by Elon Musk, and the wireless market.
Schulman says the effort would take years as well as hundreds of billions of dollars.
The figure is his estimate of what it would take to compete with established wireless carriers.
A new rival could matter to phone customers because competition in wireless service can affect their bills.
The information provided does not say when SpaceX might launch a rival service or what its next steps will be.
Verizon CEO Dan Schulman said SpaceX would need years and hundreds of billions of dollars to build a real wireless rival.
TheStreet’s headline put the price tag at $500 billion.
The article said Schulman’s answer matters for customers’ phone bills.
The article was published on October 28, 2026.
- Who
- Verizon CEO Dan Schulman and SpaceX.
- What
- Schulman said SpaceX would need years and hundreds of billions of dollars to become a real wireless rival.
- When
- October 28, 2026, the article’s publication date.
- Where
- Not stated.
- Why
- To build a real wireless rival, according to Schulman.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- CEO
- Dan Schulman, Verizon CEO
- Estimated cost
- $500 billion, according to TheStreet’s headline
- Time needed
- Years, according to Schulman
- Publication date
- October 28, 2026