Starlink is currently a branch under Elon Musks’s SpaceX that is set to bring high-speed internet to all parts of the world. The internet service provided by Starlink would allow people to connect to the internet merely via their nearest satellite dish.
When asked about whether or not there will be a Starlink IPO in the near future on Twitter, Elon Musk said, “Going public sooner than that would be very painful. Will do my best to give long-term Tesla shareholders preference.”
Just last year, Gwynne Shotwell, president of SpaceX said that there was a possibility of a Starlink IPO. The company originally started out with wanting to provide those in hard to access parts of the world better internet access. In doing so, it plans to place thousands of smaller telecom satellites in low-Earth orbit. Progress appears to be making headway as it was recently reported that Starlink satellite internet will reach global coverage by Fall 2021. However, Starlink still needs to obtain regulatory work before it can officially provide its services to every country.
In an interview last year, Musk said that with Starlink, SpaceX is on track to make up to $30 billion USD a year alongside being “helpful to telcos because Starlink will serve the hardest to serve customers.”
Check out Elon Musk’s tweet below.
At least a few years before Starlink revenue is reasonably predictable. Going public sooner than that would be very painful. Will do my best to give long-term Tesla shareholders preference.
— Elon Musk (@elonmusk) June 24, 2021
In case you missed it, Microsoft’s market cap surpassed $2 trillion USD for the first time.