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IPFS News Link • Communications

SpaceX Raising Funds at $92 Billion at Double Old Price Will Make Elon Richest in the World

• https://www.nextbigfuture.com, Brian Wang

SpaceX is building out its Starlink satellite network to provide worldwide broadband Internet from low-Earth orbit. They have launched 955 satellites. The company has opened a beta testing program in the U.S. and Canada, with kits costing $499 plus $99 per month for the service. The expected service is 50Mbps to 150Mbps for downloads and uploads with latency from 20 ms to 40 ms over the next several months.

The price per share was $270 at the $46 billion valuation during the October, 2020 raise. The new valuation would be $540.

SpaceX will get $88 million each year from the FCC for ten years to provide rural high-speed internet.The fully reusable SpaceX Starship had a mostly successful high altitude flight and the next Starship SN9 prototype should fly in January 2021.

Elon Musk owns about 54% of SpaceX. This is currently worth $24.8 billion but will be worth $49.6 billion in January, 2021 when this deal is completed.

The extra nearly $25 billion and if Tesla is 10% or more over its current price then Elon Musk will become the richest person in the world.


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