Millionaire Elon Musk, CEO of space company SpaceX, calculated on Tuesday (29) that he will invest up to 30 billion dollars in the long term in his satellite internet project.
Space exploration company SpaceX is developing its internet service via satellite, whose objective is to provide high-speed connection in remote regions of the planet, not requiring terrestrial infrastructure.
+ SpaceX completes launch of 60 more Starlink satellites
The company has launched more than 1,500 satellites and has more than 69,000 active users of its internet connection service in a dozen countries. The figure that could surpass 500,000 users “in twelve months”, said Musk.
“As of the month of August, we should have connectivity throughout the planet, with the exception of the poles. We are really going to address the very sparsely inhabited regions”, explained the businessman of South African origin in an online intervention at the world mobile telephony fair (MWC), held in Barcelona.
As for finance, he explained that “before having a positive treasury, you will probably have to invest at least 5 billion dollars, maybe 10 billion”.
“And even when the treasury is profitable, we will continue to invest so as not to be left behind in innovations”, he said.
Therefore, the total long-term investment could reach “between 20 and 30 billion dollars”, said Musk, whose big competitor, Amazon founder Jeff Bezos, plans to invest 10 billion dollars in his rival satellite project called Kuiper .
SpaceX, which operates Starlink, has asked US regulatory authorities for permission to launch up to 42,000 satellites to provide Internet access.
+ Learn about the effectiveness of each vaccine against Covid-19