SpaceX, which is known as Space Exploration Technologies Corp is an American based aerospace company manufacturer and space transportation Service Company. The company was founded in 2002, and it’s owned by non-other but Elon Musk, the billionaire and serial entrepreneur.
The goal of establishing this company is to reduce space transportation costs and spearhead the goal of enabling people to live on other planets. Today the company has made great milestones such as being the only commercial spacecraft to deliver cargo to and from the international space station and being the only company that was able to return a spacecraft from low Earth orbit.
With Elon Musk net worth being estimated to be $43.6 billion, one might wonder a company he founded such as Spacex what would be its worth. Well, we shall look at SpaceX’s net worth, its inception, evolution, and some of the milestones it has been able to achieve to date.
Inception
Elon Musk had a dream of growing plants on Mars, and since the Public wasn’t interested in Space exploration anymore, he made an attempt to regain public interest and increase the budget for NASA. He started to make his dream come to reality by visiting Russia to buy cheap rockets, but he could not find any affordable rockets that he needed. On his way back from Russia, he realized he could manufacture his own rockets since the building materials needed were only three percent of the sales price of a rocket.
He decided to procure the services of engineer Tom Mueller who agreed to work with him, and SpaceX was born that’s in 2002. The company has grown rapidly, and as of today, it has over 8000 employees.
Today the company makes over $15 billion in revenue from contracts both form the commercial and government of the United States. Today the company is the leading global commercial launch provider.
Evolution
After SpaceX establishment today, the company has achieved a lot of milestones. Some of the achievements SpaceX has achieved include cost reduction in the space launch industry and orbital-class launch vehicles. SpaceX launched the first liquid-fueled rocket to the orbit, and also it was the first company to put a commercial satellite in orbit.
The company has also become the first one to relaunch and land a used orbital rocket stage. It was also the first company to send a human-related spacecraft to space. It has also docked a spacecraft to the International Space Station.
Today the company is intending to develop a fully reusable launch vehicle, which will be known as Starship and also a telecommunication network known as Starlink. Starlink will provide global internet services at a smaller cost, even to the remotest regions of this planet.
The company is also certified by the US military to supply EELV payload vehicles and other military equipment.
In case you are looking to have a space adventure, SpaceX has plans to fly private citizens to space in 2024, the first trial being four tourists flying for five days in a low earth orbit.
Awards & Achievements
SpaceX has had a lot of achievements since its launch in 2002. Some of the accomplishments include being the first private company to dock a spacecraft to the international space station, and the first private company to send a spacecraft to space. It’s also the first private company to successfully send a spacecraft to the international space station.
Net worth of SpaceX in 2024
As of December 2024, Considering the owner of SpaceX Elon Musk net worth is $45 billion today, how about SpaceX net worth? Well, SpaceX’s net worth is an estimated $35 billion. Today SpaceX is even more valuable than Tesla which its market cap is around $32 billion. Remember that SpaceX is a technology company that primarily is focused on manufacturing and launching rockets and spaceships at a low cost.
Today the company makes money from the space launch services sector where it offers to launch commercial satellites. The US government is one of its exclusive clients, which has already awarded the company with contracts worth $12 billion. The government of Kazakhstan also hires the services of SpaceX to send their defense satellites to space. SpaceX has also been awarded contracts by NASA worth more than $4 billion for transporting cargo to and from the international space station.
SpaceX net worth might be higher or lesser considering this is a privately held company, and you just can’t find everything on the books. However, we are certain that with SpaceX conquering, Mas will be a reality, and maybe very soon, we might have earth two on Mars.