SpaceX’s Starlink project, owned by aerospace company SpaceX, has reached its break-even point. Elon Musk, the billionaire behind the project, announced on his social media page that Starlink has achieved positive cash flow. He praised the team for their excellent work. Additionally, Musk mentioned that Starlink has the majority of active satellites in low Earth orbit.
Starlink has been in the spotlight since last year for its role in providing satellite communication to Ukraine, which is crucial in its conflict with Russia. Last month, Musk stated that Starlink would support communication in Gaza with internationally recognized humanitarian organizations. This was in response to the disconnection of phone and internet services, which isolated people in the Gaza Strip.
SpaceX aims to make Starlink a significant source of income to finance its more capital-intensive projects, such as the next-generation reusable rocket, Starship, which the company plans to send to the Moon for NASA in the next decade.
Although Starlink’s revenue increased to $1.4 billion last year, more than six times compared to the previous year, it fell short of Musk’s goals. Currently, SpaceX is valued at approximately $150 billion and is one of the most valuable private companies globally.
Despite controversies surrounding Starlink, including allegations of interference in geopolitical conflicts, Musk has denied giving instructions to turn off the satellite network near Crimea. He explained that Starlink was not operational there. He also cited the complexity of obtaining permission from the United States government due to sanctions against Russia.
In a recent development, the Pentagon confirmed an agreement with Elon Musk’s Starlink to assist Ukraine.
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