Active Stocks
Mon Apr 22 2024 15:57:16
  1. Tata Steel share price
  2. 161.85 -0.15%
  1. HDFC Bank share price
  2. 1,512.30 -1.24%
  1. State Bank Of India share price
  2. 765.85 2.00%
  1. ICICI Bank share price
  2. 1,087.00 1.93%
  1. Wipro share price
  2. 461.95 2.01%
Business News/ Companies / News/  Elon Musk's SpaceX will be worth half-a-trillion dollars by 2030: Billionaire investor explains why
BackBack

Elon Musk's SpaceX will be worth half-a-trillion dollars by 2030: Billionaire investor explains why

While talking to CNBC on Friday, Ron Baron said that SpaceX would be valued at about $250 billion to $300 billion over the next three years

The SpaceX Starship is seen on its Boca Chica launchpad as a SpaceX flag flies from a parked car after the U.S. Federal Aviation Administration granted a long-awaited license allowing Elon Musk's SpaceX to launch the rocket to orbit for the first time (REUTERS)Premium
The SpaceX Starship is seen on its Boca Chica launchpad as a SpaceX flag flies from a parked car after the U.S. Federal Aviation Administration granted a long-awaited license allowing Elon Musk's SpaceX to launch the rocket to orbit for the first time (REUTERS)

Billionaire investor Ron Baron made some optimistic predictions about the potential of Elon Musk's SpaceX and claimed that the rocket company will be worth about $500 billion by 2030. While talking to CNBC on Friday, Ron Baron said that the company would be valued at about $250 billion to $300 billion over the next three years. The investors own more than $1 billion shares in SpaceX and remain optimistic about the growth potential of the company

SpaceX is presently valued at approximately $150 billion, positioning it as one of the most valuable non-public entities globally. Elon Musk recently announced that Starlink, SpaceX's satellite internet division, has attained a state where its cash inflow matches its outflow. Starlink, recognized as the largest satellite enterprise globally, operates a constellation of around 5,000 satellites in low Earth orbit.

The figures offer a unique insight into the financial workings of the enterprise led by Elon Musk. The company, under his guidance, engages in the commercialization of space through reusable rocket services and the provision of internet services transmitted from an array of orbiting satellites.

Sales expected to reach $15 billion by 2024

Bloomberg News reported on Monday that SpaceX is anticipated to generate approximately $9 billion in revenue this year from its rocket launch and Starlink enterprises. Projections suggest a further increase, with sales expected to reach approximately $15 billion by the year 2024.

The people familiar with the matter indicated that Starlink's sales are poised to surpass and surpass the revenue generated by the launch business in the coming year. This shift is anticipated as Starlink expands its availability to additional global regions. As a result, it is foreseen that Starlink will constitute the majority of SpaceX's revenue.

Starlink provides a high-speed internet connection through a subscription-based model, requiring users to pay a monthly fee along with a one-time charge for the essential ground receiver hardware that facilitates connection to its network of satellites in orbit.

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 10 Nov 2023, 08:24 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App