Verizon CEO: SpaceX Would Need 4-6+ Years, $300B-$500B to Build a Network

Verizon CEO Dan Schulman said on the company's Q3 earnings call on Oct 26 that if SpaceX builds its own terrestrial wireless network, it would take "a minimum of four to six years" to build it out. These are a rival CEO's estimates, not SpaceX plans.

The conditions he set

Schulman framed the estimate as conditional. "If they build one, they're going to look at 65,000-80,000 macro sites," he said, adding that it would take a minimum of four to six years "assuming that's the case, and assuming they try to go do that." He also said he operates "under the assumption that everything SpaceX says they will do, they will do, and that they will execute flawlessly."

The cost estimate

On cost, Schulman said "I assume somewhere between $300 billion and half a trillion over the next like seven or eight years." That is his own back-of-envelope assumption, not a Verizon filing, and neither SpaceX nor an independent analyst has endorsed it. Reuters' summary of the Bloomberg report cited a TD Cowen estimate of more than $80 billion for a nationwide terrestrial network, several times lower.

"Sixth, not the fourth"

Schulman said that over the next four to six years SpaceX "[has] the possibility of becoming the sixth, not the fourth, the sixth competitor in the market," and that at that point he would "welcome the opportunity to compete against them." He noted that Verizon already competes against three rivals, two of which offer free wireless service. It is a possibility he described, not a prediction.

No MVNO for satellite providers

Asked by an analyst about a possible MVNO deal, Schulman said "there are no back doors to any of our MVNO agreements, and I see absolutely no benefit whatsoever to extending an MVNO deal to any satellite provider." That is the CEO's stated view, not a formal contract position.

Context

Bloomberg reported on Oct 22, citing people familiar with the matter, that SpaceX aims to secure at least 80,000 cell sites across the US and is in talks with at least one major infrastructure company, including Crown Castle. SpaceX has not confirmed the figure. See our earlier coverage: SpaceX seeks access to 80,000 US cell sites and SpaceX agrees to buy 800 MHz spectrum for Starlink Mobile.

On SpaceX's Q3 call on Oct 20, Gwynne Shotwell said the company would turn on Starlink Mobile service in early 2028. SpaceX has not published a cost or timeline for a ground network. Reuters reported that carrier stocks fell 4-5% after the Bloomberg report.

Source: PCMag, Verizon Q3 2026 earnings call transcript.