Space Exploration Technologies Corporation, otherwise known as SpaceX is one of the most revolutionary companies in the world. It has now emerged as a world leader in space and aerospace-related activities.
In the short span of its existence, the space company has achieved some records that even its main rival, Blue Origin, owned by Jeff Bezos has not been able to do. One of their earliest achievement includes the successful launch of Falcon 1 in 2008 into Earth’s orbit, thereby making it the first privately funded liquid rocket to reach orbit.
As of May 2021, the Falcon 9 is still one of the most popular rockets made by SpaceX has it has been reflown into space more than 100 times since June 2010. Not all missions have been a success though, there have been partial failures and even total loss of a spacecraft.
SpaceX Wiki and History
The history of this iconic company can be traced back to 2001. Musk came up with a project of landing a miniature experimental greenhouse containing seeds with dehydrated gel on Mars. This project was to be called “Mars Oasis”. He found out that traveling to space was indeed expensive and needed to do something about it.
Musk traveled down to Moscow, Russia in October 2001 with Adeo Ressi, his best friend, and Jim Cantrell who was an aerospace supplies fixer in order to purchase buy refurbished ICBMs (InterContinental Ballistic Missiles). However, their mission in Russia was met with obstacles, and as they were unable to buy the missiles.
They went back again in 2002 but this time with Mike Griffin who was just leaving Orbital Sciences Corporation at that time. Just like in 2001, they couldn’t achieve their objective but this time it was because the rockets were just too expensive. It was on their way back, Elon Musk decided he should start a company that can build affordable rockets.
He founded and incorporated the company on the 6th of May, 2002. The first rocket the company was to build was named Falcon 1 which was inspired by Star Wars’ Millennium Falcon.
In 2005, SpaceX bought a 10% stake in Surrey Satellite Technology Ltd (SSTL) which manufactured small satellites.
By February 2012, the company was valued at $1.2 billion and in May 2012 after the Dragon C2+ flight, the private equity in the company was valued at $2.4 billion. As of early 2016, the company had grown to have close to 5,000 employees.
Nevertheless, the company has encountered various major setbacks with its spacecraft in 2013, 2015, 2016, 2019, and 2020 but has still been able to come out stronger by becoming a dominant player in the current space race.
In May 2020, the company launched two NASA astronauts into orbit thereby becoming the first private company to send astronauts to the International Space Station.
Although the company is privately funded, it has received tremendous support from the American government and benefited immensely from the technology developed by NASA.
CEO and CTO
President and COO
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Here are some of the frequently asked questions (FAQs) regarding the Aerospace company below.
Is NASA better than SpaceX?
NASA has superior technology to SpaceX but the latter is known for always defying the odds.
Who owns SpaceX?
Is SpaceX a failure?
Although it has had a few setbacks, that is not enough to call it a failure.
Is SpaceX funded by NASA?
It is privately funded.
Does SpaceX make money?
Yes, it is making money
Has anyone died at SpaceX?
Yes, but it wasn’t space-related.
Can you buy stock in SpaceX?
Currently, you cannot.
From the day the company was incorporated till now, the company has had launches for different purposes. A lot have failed to take off while some were a success.
To view all of the latest launches or the next SpaceX launch date and time, please click here.
The starship is a two-stage to orbit rocket that is super heavy. The rocket consists of two stages before reaching orbit. The first stage is called “super heavy” which is the booster stage, while the second is called “Starship”. The rocket is fully reusable and can double as both a Cargo and Passenger spacecraft. As of May 2021, the Starship rocket is still under the development phase.
Space X has profited from NASA’s support and technology over the years. On the 16th of April 2021, NASA picked SpaceX to land American astronauts n the moon under its Artemis program but on the 30th of May, 2021 it was announced that NASA had suspended its $2.9 billion contract with the company to land on the moon.
SpaceX Net Worth
The company is estimated to be worth $74 billion.
David is a content writer with interests in fields like politics, tech, and finance. David has been writing since he was a little kid (only the Universe knows the exact year 😊 ). Writing has been a passion for a long time and now it is a profession for him. He is the brain behind Mafian Media, the parent company to media sites such as Zimapp.com