Elon Musk is about to spend half a billion dollars on 3 projects

Elon Musk is about to spend half a billion dollars on 3 projects

The CEO of SpaceX is collecting funds of $500 million to fuel Starlink, World’s Fastest Transportation System, and a Spaceship that will colonize Mars.

We all know that Elon Musk is passionate and wants to bring new innovations in different fields of life. His efforts to make humans a multi-planetary species signify this. Latest reports suggest that he is planning to spend half a billion dollars on three amazing projects in the coming decade. SpaceX filed series I funding in Delaware which means 3 million new shares of the company are in the market.

The worth of each of them is $169. Consequently, SpaceX will become richer by a mammoth $507 million. The value of the company following this development is expected to be somewhere around 27.5 billion USD. Having said all this, the company representatives have provided no information about the purchasers of the shares or the projects on which this cash will be spent but recent statements of Musk clearly vote in favor of the following projects.

Starlink Satellite Internet

The primary goal of this revolutionary internet system is to have global broadband coverage and provide the users with 178 times faster service than the average speed of internet experienced in the world right now. Statistically speaking, Starlink will provide a rapid flow of data at 1Gbps. SpaceX presented their proposal to the Federal Communications Commission stating that 12,000 internet-providing satellites will be launched in the space for this purpose. The number of satellites associated with this project is more than twice the number of space launches done by humans. This plan was approved in March and now it’s time to bring it to reality. As Musk wants to improve people from all classes, he aims to provide internet services to least privileged people through this service. He tweeted about that and said,

If successful, Starlink constellation will serve least served.”

Despite the fact that SpaceX has already built a satellite factory in Washington, a serious amount of money is needed to bear the production as well as launching cost of thousands of spacecraft.

Big F—ing Rockets for Colonizing Mars

Immediately after the launch of Falcon Heavy, the world’s most powerful operational rocket, SpaceX shifted their focus towards a system known as Big Falcon Rocket (BFR). The reusable launch systems stand at 348 foot and have the capacity to transport 150 tons of payload plus 100 people in a single go. Liquid Oxygen and Methane will be used as fuel and it has the ability to land itself and go for another launch as it is reusable. It is designed in form of 2 sections.

One of them will be used to send the spaceship to the Earth’s orbit and it is 191 feet in height. The 157-foot high section will then take control in order to send the spacecraft to Mars or Moon. Musk wants to replace all the other systems of the company with this as it is considered cost-efficient and can be used again and again. He said,

We want to have one system, one booster, and ship that replaces Falcon 9, Falcon Heavy, and Dragon. If we can do that, then all the resources that are used for Falcon 9, Heavy, and Dragon can be applied to this system.”

The first flight of this rocket is expected to take off sometime in 2022 while manned crew will be launched two years after that.

World’s Fastest Transportation System

According to the claims of SpaceX, the speed of a BFR will be 4.6 miles per second. It is 12 times more than the supersonic Concorde jets. This means that the world’s fastest transportation system will also belong to Musk if all the experiments go as planned. SpaceX uploaded a video according to which people will be able to fly from London to New York in just 29 minutes. Similarly, the journey from Bangkok to Dubai will take 27 minutes while you can reach San Francisco from Delhi in 40 minutes. The president of the company, Gwynne Shotwell, is hopeful that this system will be live and running within 10 years. Leroy Chiao, a retired NASA astronaut, showed respect for Musk despite uncertainties in his mind in the following words.

“This would not be for the faint of heart, and it is difficult to see how this would be inexpensive. But the one thing I’ve learned from observing Elon is not to count him out.”

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Muneeb ud Deen
A sports fanatic who loves to read.
"Honesty and self-satisfaction have been my weapons throughout my writing career of 3 years."

One Reply to “Elon Musk is about to spend half a billion dollars on 3 projects”

  1. Wow! The world’s fastest Transportation System will go a whopping 4.6 miles per hour?!?!?!

    What did the snail riding on the tortoise’s back say? “Slow down!”

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