Famous investor Ron Baron has expressed hope over Elon Musk’s SpaceX, estimating the rocket company’s valuation to reach $500 billion by 2030. Ron Baron predicted that the company’s valuation would range from $250 billion to $300 billion over the next three years in an interview with CNBC on Friday. The investors in SpaceX possess over $1 billion value of shares and have a positive outlook regarding the company’s growth prospects.
With a current valuation of almost $150 billion, SpaceX is among the most valuable private companies in the world. SpaceX’s satellite internet company, Starlink, has reached a point where its cash inflow equals its expenditure, according to a recent announcement from Elon Musk. Known as the biggest satellite company in the world, Starlink manages a constellation of about 5,000 low-Earth orbit satellites.
The numbers provide a unique perspective on the financial operations of Elon Musk’s company. Under his direction, the business offers internet services via a number of satellites in orbit and engages in the commercialization of space through reusable rocket services.
By 2024, sales are expected to reach $15 billion
According to a Monday report by Bloomberg News, SpaceX is expected to bring in about $9 billion this year from its rocket launches and Starlink businesses. Forecasts indicate that sales will rise even further, with an estimated $15 billion in sales by 2024.
According to those with knowledge of the situation, Starlink’s sales are expected to exceed the money made by the launch company in the upcoming year. This change is expected as Starlink becomes available in more parts of the world. Therefore, it is expected that Starlink will be responsible for the majority of SpaceX’s earnings.
Through a subscription-based business model, Starlink offers high-speed internet access. Users must pay a monthly fee in addition to a one-time price for the necessary ground reception hardware to connect to the company’s network of satellites in orbit.