SpaceX (Space Exploration Technologies Corp.) was founded in 2002 by Elon Musk in Hawthorne, California. Musk invested $100 million of his own money with the goal of reducing space launch costs and eventually making humanity a multi-planetary species. The first three Falcon 1 launches failed before the fourth succeeded in 2008.
SpaceX’s breakthrough was reusable rocketry. The Falcon 9 rocket, which first landed successfully in 2015, can fly multiple missions — some boosters have flown over 20 times. This reusability has dramatically lowered launch costs. SpaceX now launches more rockets than any other entity, including entire governments.
Starship, the company’s next-generation vehicle, is the largest and most powerful rocket ever built. Fully reusable and capable of carrying over 100 metric tons to orbit, Starship is designed for Moon and Mars missions. It’s also been selected by NASA for the Artemis lunar landing program.
Starlink, SpaceX’s satellite internet constellation, has over 6,000 satellites in orbit and serves millions of customers in 70+ countries. The service provides broadband internet to rural and remote areas that traditional providers don’t reach. Starlink revenue is estimated to exceed $6 billion annually.
SpaceX is privately held and has been valued at over $200 billion in secondary market transactions, making it one of the most valuable private companies in the world. The company has over 13,000 employees.
SpaceX is also developing a crew transportation system. Its Dragon capsule has carried NASA astronauts to the International Space Station since 2020, ending US dependence on Russian Soyuz vehicles for human spaceflight.
