Elon Musk says SpaceX has “sufficient capital” for its Starlink internet satellite network to reach “an operational level”

Elon Musk says SpaceX has

  • SpaceX CEO Elon Musk explained on Wednesday how the company’s Starlink satellite network will serve as the company’s key money-maker, unlocking his vision of sending astronauts to Mars.
  • Musk’s comments came on a call with media hours before the company’s first full launch of Starlink satellites.
  • On the call Wednesday, Musk clarified that SpaceX’s recent fundraising rounds “Have been oversubscribed.” He said SpaceX has the funding needed to build and launch enough Starlink satellites to begin using the network.
  • SpaceX launched two demonstration satellites in February 2018, but much of the program – and the satellites’ design – remained unknown.
  • “Musk said SpaceX will need six more launches, with 60 satellites per launch, to get”minor coverage” for the internet network.
  • SpaceX plans to rapidly deploy Starlink, scaling its production and launch rate to between 1,000 satellites to 2,000 satellites per year.
  • If SpaceX is able to stick to its current Starlink schedule, Musk said “SpaceX will have the majority of satellites” in orbit around the Earth within two years.