A $1.5 billion NASA contract saved SpaceX. Elon Musk says ’It’s true’

Musk commented on an interview clip posted on Twitter, where he can be seen talking about his reaction to getting the NASA contract

Livemint, Edited By Vivek Punj
Updated4 Aug 2021, 07:03 PM IST
SpaceX CEO Elon Musk
SpaceX CEO Elon Musk(Bloomberg)

We have seen two billionaires flying to the edge of space, marking the start of next chapter in space travel. But the company that brought the idea of commercial space travel to fore was once struggling to even stay afloat. Elon Musk-led SpaceX was almost broke, with no way to turn around. The helping hand that pulled the pioneering company from this debacle came from US space agency NASA in the form of a $1.5 billion contract.

One Twitter handle, Tesla Owners of Silicon Valley, shared a interview clip where Musk shared his reaction after NASA offered the contract to his space company.

After hearing the news that his company has won the contract, Musk said he "could not even hold the components".

"I just spill it out, "I love you guys"," Musk can be seen saying during the interview.

The interviewer follows with a question: "They saved you?"

"Yeah, they did," Musk replied.

"Financially and maybe emotionally," the interviewer added.

"I will tell you, that was definitely helpful," Musk says.

Commenting on the post, Musk stated, "It's true."

In his latter comments Musk said, "I do love NASA, always have."

"Just want to say thanks to those in government who fight hard for the right thing to happen, despite extreme pressure to do otherwise. Therein lies the core goodness of the American state," he added.

In response to a question from Twitter handle that posted the video clip, Musk said, "I thought we had lost for sure. We were just a tiny company back then, only 1 of 4 launches got to orbit and I had no money left. Out of the blue, a few days before Christmas, NASA calls to say we won."

The clip or Musk do not clarify as to what was the contract awarded for, or when. However they could be referring to the commercial cargo contracts awarded to SpaceX for 12 flights by NASA.

Back then, between 2006 and 2008, SpaceX was in a rough sport with three failed launches of Falcon 1 rocket. The company succeeded in September 2008 but funds were sparse, to the point that it could not even pay the employees.

ELon Musk had started SpaceX back in 2002 to make space flights cheaper and colonise Mars one day.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
First Published:4 Aug 2021, 07:03 PM IST
HomeNewsworldA $1.5 billion NASA contract saved SpaceX. Elon Musk says ’It’s true’

Most Active Stocks

Indian Oil Corporation

166.90
03:58 PM | 12 JUL 2024
-7.6 (-4.36%)

Tata Steel

168.70
03:58 PM | 12 JUL 2024
-0.3 (-0.18%)

Bharat Electronics

333.30
03:59 PM | 12 JUL 2024
-2.25 (-0.67%)

Wipro

560.05
03:56 PM | 12 JUL 2024
25.7 (4.81%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

KPIT Technologies

1,864.00
03:57 PM | 12 JUL 2024
154.25 (9.02%)

Inox Wind

171.90
03:59 PM | 12 JUL 2024
13.85 (8.76%)

Zensar Technologies

768.20
03:29 PM | 12 JUL 2024
50.45 (7.03%)

Coforge

5,950.05
03:29 PM | 12 JUL 2024
386.65 (6.95%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,087.000.00
    Chennai
    73,942.000.00
    Delhi
    74,014.000.00
    Kolkata
    74,377.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.85/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts