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Elon Musk hints at IPO of Starlink Internet satellite network | NOW

Tesla boss and billionaire Elon Musk thinks Starlink, its satellite network under construction, will eventually be “suitable” for an IPO. This may be more “predictable” if the revenues from the company, which is part of Musk’s space company SpaceX, are more “predictable,” he said.

By placing thousands of satellites around the earth, Starlink aims to provide broadband internet worldwide. SpaceX has already launched hundreds of satellites into space. Experts believe that the company should be able to earn money with this from 2033.

Musk’s comments echo those of SpaceX executive Gwynne Shotwell earlier this year. She said at a meeting in February that a Starlink IPO offers investors an opportunity to become part of the aerospace company’s “most promising” project as well. For the time being, it has been nearly impossible for investors to own part of SpaceX, which plays a leading role in the commercial rocket industry.

Starlink wants, among other things, to compete on price with providers of wired internet connections. The satellites must provide fast internet on earth and in the long term also in space. Amazon and Facebook are also working on internet satellites, while Apple previously announced that it wants to use satellites for the internet.

SpaceX has been in the news repeatedly in recent times. At the end of May, the company launched a manned rocket for the first time that went to the International Space Station. It was the first commercial rocket to bring astronauts to the ISS. SpaceX is also known for the reusable rockets it has developed. The company also worked on a moon mission. Its launch is scheduled for 2026.

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