Billionaire Elon Musk has just admitted that the aerospace company SpaceX is losing heavily in its high-speed satellite internet project called Starlink.
“Starlink is still losing money!” – The American technology billionaire recently shared on his personal Twitter page. Starlink is developed by SpaceX, a company run by Mr. Musk.
“Every month, SpaceX is spending $ 20 million to maintain Starlink’s operation. It is expected that maintaining operations from now until the end of 2022 will cost more than $ 120 million and need an additional $ 400 million in the next year.” – billionaire Musk emphasized.
Starlink satellite internet receiver. Photo: SpaceX
Explaining that Starlink is losing heavily, the richest person in the world (according to Forbes magazine) said that the project is providing free internet to Ukraine and Iran.
In fact, the 51-year-old billionaire’s company has shipped 15,000 satellite internet receivers to Ukraine and some equipment to Iran.
The first Starlink satellites were launched on SpaceX’s Falcon 9 rocket in May 2019 and it officially went into operation in October 2020.
About 3,000 Starlink satellites currently provide broadband connectivity to more than 400,000 users globally, especially in rural areas and where the terrain is difficult.
Source: CafeBiz
Source: Vietnam Insider