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World News November 4, 2023

Starlink achieves cash-flow breakeven, says SpaceX CEO Musk

Elon Musk announced that SpaceX’s satellite internet unit, Starlink, has achieved cash flow breakeven. He previously stated that once Starlink’s cash flow became reasonably predictable, SpaceX would spin off and take it public. Starlink has rapidly expanded its low-Earth orbit network to around 5,000 satellites, making it the world’s largest satellite operator and a competitor to other satellite internet firms. Musk mentioned that Starlink now constitutes a majority of all active satellites and will have launched most satellites from Earth by next year. Starlink recently pledged to support communication links in Gaza through recognized aid organizations. The revenue for Starlink surged more than six-fold to $1.4 billion last year, although it fell short of Musk’s targets. SpaceX, valued at around $150 billion, is among the most valuable private companies globally.

Source – CGTN

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