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.
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.
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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.