Iran reviews adding Musk assets to military target list ahead of SpaceX IPO

Iran Names SpaceX and Starlink as Military Targets Amid Escalating US Conflict

Iran has formally placed Elon Musk’s SpaceX and Starlink infrastructure across the Middle East under review for inclusion on its military target list, the state-affiliated Fars News Agency reported, broadening Tehran’s confrontation with the United States just one day before SpaceX’s planned initial public offering on the Nasdaq.

A Widening Target List

The Fars News report, published Tuesday, stated that “all interests associated with economic holdings managed by Elon Musk across West Asia, including in Arab countries and Israel” were under review, according to Anadolu Agency, citing the Iranian outlet. The report named Starlink ground stations in Israel, Qatar, Jordan, the UAE, and Oman as specific infrastructure being evaluated, along with two Abu Dhabi-based investment firms — Alpha Dhabi Holding and Mubadala — that reportedly hold stakes in SpaceX.aa

The designation follows what Fars described as confirmation that the U.S. military and Israel had used Musk-managed infrastructure, including the Starlink satellite network, during operations against Iran. A Reuters investigation published in May, based on Pentagon documents, revealed that Starlink’s Starshield terminals served as the operational backbone for U.S. military drone strikes during the conflicts with Iran in June 2025 and February 2026, providing real-time video feeds and command guidance to loitering munitions.turkiyetoday

Timing and the SpaceX IPO

The threat arrives at a sensitive moment. SpaceX is set to begin trading on Friday, June 12, in what would be the largest IPO in history, with a fixed price of $135 per share and a target valuation of $1.77 trillion, according to Reuters and The New York Times. Gulf sovereign wealth funds have submitted billions of dollars in orders for the offering, with Saudi Arabia’s Public Investment Fund and the Kuwait Investment Authority each requesting between $1 billion and $5 billion in shares, Bloomberg reported.reuters

Iran had previously declared Starlink a “legitimate target” in late March, when the Islamic Revolutionary Guard Corps warned 18 U.S. technology companies — including Apple, Microsoft, Nvidia, and Tesla — that their Middle Eastern operations would face retaliation for strikes on Iranian soil.newarab

A Conflict With No Clear End

The latest escalation follows a volatile week in which a U.S. Army Apache helicopter went down near the Strait of Hormuz on Monday, June 8. President Donald Trump attributed the crash to Iran and ordered retaliatory strikes on Iranian air defense systems and radar sites in Hormozgan province. Iran’s IRGC responded by claiming attacks on 21 American military targets at bases across the region.apnews

As CNBC reported Thursday, investors are now bracing for what analysts describe as a “long grind,” with the prospect of a drawn-out conflict reshaping risk calculations across the region.cnbc