SpaceX CEO Elon Musk has now cleared the air about the Starlink phone. Recently, Reuters reported that SpaceX could release a Starlink phone to complement its fast-growing satellite internet business. Now, SpaceX CEO Elon Musk to social media platform X (formerly known as Twitter) to set the record straight. An X user named Mark Kretschmann shared on X that SpaceX is reportedly planning to develop a Starlink phone in order to expand its satellite business ahead of the massive IPO. Replying to his post Musk denied any such development and wrote, “We are not developing a phone”. Musk has repeatedly expressed reluctance about making a phone. At a Pennsylvania town hall in October 2024, he said: “The idea of making a phone makes me want to die,” calling it a massive undertaking. He reiterated on Rogan’s podcast that Tesla could build a phone but would only do so if Apple or Google began censoring apps or acting as gatekeepers.
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Starlink’s growth and strategy
Starlink has become one of SpaceX’s most important revenue drivers, with millions of subscribers worldwide. The service offers high-speed internet in remote and underserved areas and SpaceX has also been expanding into enterprise and government contracts.
Elon Musk becomes first person on Earth worth $800 billion
Tesla CEO Elon Musk has now become the first person in history to surpass a net worth of $800 billion after the landmark merger of his rocket company SpaceX and his artificial intelligence company xAI. As reported by Forbes, the deal valued the combined entity at $1.25 trillion, giving a boost to Musk’s personal fortune by $84 billion to a staggering $852 billion.The merger of the two companies restructured Elon Musk’s holdings and gave him 43% stake in the newly combined company which is estimated to be $542 billion. Before the acquisition deal between SpaceX and xAI, Elon Musk held 42% stake in SpaceX which valued around $336 billion and a 49% stake in xAI which was worth $122 billion. With SpaceX now absorbing xAI, the rocket maker has become Elon Musk’s most precious asset, outpacing his other holdings.