$SATS - Arbitraging the SpaceX-xAI Liquidity Supercycle EchoStar, which sits at No. 302 on the Fortune 500 list, released this Wednesday,. It saw a dramatic turnaround in 2025 after it sold its wireless spectrum to SpaceX for $17 billion with $8.5 billion paid in cash and then $8.5 billion in equity, or roughly 2% to 3% of SpaceX. With $11.1 billion in SpaceX equities after SpaceX bought another $2.6 billion in spectrum in November 2025, EchoStar has gone from a limping business to a mouth-watering public market proxy ahead of SpaceX’s initial public offering later this month.
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