Elon Musk, the founder of SpaceX, has announced that the Starlink satellite internet has achieved profitability. Musk shared this news on his social media account, stating that Starlink has reached a cash flow breakeven point. He applauded the excellent work of his team in achieving this milestone.
Starlink, a project by SpaceX, currently has the majority share of active satellites in low Earth orbit. However, Musk did not specify whether the profitability was achieved on an operational basis or over a certain period. Nevertheless, this accomplishment is significant for SpaceX.
The value of SpaceX has risen to approximately $150 billion. Two years ago, Musk emphasized the importance of Starlink being financially viable and overcoming negative cash flow challenges.
As reported previously, SpaceX has already launched over 5,000 Starlink satellites into orbit. These satellites are part of the ambitious plan to provide global internet coverage, especially to underserved areas.
The Starlink satellite internet service aims to deliver high-speed and low-latency internet connections to users around the world. With more satellites being launched, the service is expanding its coverage and improving its overall performance.
The profitability of Starlink is a significant milestone for SpaceX and its goal to revolutionize the satellite internet industry. As the project continues to grow and refine its technology, it has the potential to provide reliable internet access to remote regions, bridge the digital divide, and connect billions of people globally.