In an impressive display of American ingenuity and international collaboration, Elon Musk’s commercial space company SpaceX successfully launched its Crew-7 mission to the International Space Station (ISS) from Kennedy Space Center in Florida. The pre-sunrise launch was met with resounding success as the Falcon 9 launch vehicle’s first stage booster returned to Earth while the Dragon space capsule continued its journey into orbit. Currently, the Dragon capsule is en route to rendezvous with the space station, embarking on a 30-hour flight.
The Crew-7 mission boasts a multinational crew, with astronauts from the United States, Japan, Denmark, and Russia coming together for this scientific expedition. Their collective efforts will primarily focus on conducting advanced research related to human space exploration – a critical endeavor in our quest for knowledge beyond our planet.
NASA Administrator Bill Nelson expressed his admiration for Crew-7, emphasizing how this mission showcases the collaborative power of American ingenuity and international partnerships. By working closely with countries around the world, NASA is able to harness the brilliant minds of scientists and achieve remarkable feats. The benefits of such collaborations are evident, as they enable bolder missions and facilitate greater learning opportunities.
Since the retirement of the Space Shuttle in 2011, the United States had been unable to independently launch crews into space. However, SpaceX successfully restored this crucial capability in 2020, proving its prowess in the field. Subsequently, the company has continued to flawlessly transport astronauts to space on behalf of NASA.
The significance of SpaceX’s achievements is further highlighted by NASA’s decision to award the company a prestigious $1.4 billion-plus contract for five future flights in August 2022. With each flight generating approximately $300 million in revenue, SpaceX has not only become a crucial player in manned space missions but has also proven its ability to fulfill NASA’s stringent requirements of safe transportation to and from space.
As we witness the remarkable ongoing collaboration between SpaceX and NASA, it becomes increasingly evident that the boundaries of human exploration are continuously being pushed, ultimately propelling us further into the envelope of our vast universe.
Private Companies Revolutionizing NASA
The involvement of private companies in NASA missions has greatly transformed the space exploration landscape. In 2014, Boeing (ticker: BA) secured a monumental $4.2 billion contract from NASA, while SpaceX was awarded a significant $2.6 billion contract. These contracts aimed to foster public/private partnerships and drive innovation in the field.
Boeing is currently focused on developing its Starliner spaceship, which will be launched on a rocket provided by ULA, a joint venture between Lockheed Martin (LMT) and Boeing. Although a crewed test flight scheduled for July had to be postponed, it is now projected to take place in March 2024.
The contrasting journeys of Boeing and SpaceX highlight the tremendous progress achieved by SpaceX since its inaugural orbital flight in 2008. SpaceX has already launched over 60 rockets in 2023, surpassing the total number launched in 2022 before August’s end.
The success of SpaceX, combined with its involvement in NASA missions, missions for other companies, and its esteemed Starlink space-based Wi-Fi business, is estimated to generate sales of around $8 billion in 2023. Despite being a privately held company that refrains from regular financial updates, SpaceX’s accomplishments speak volumes. Unfortunately, the company declined to comment on its projected sales for this year.
SpaceX is an integral part of Elon Musk’s vast manufacturing and technology empire, which has propelled him to the top of the wealth pyramid. Musk’s net worth is currently estimated at an astounding $250 billion according to ‘s. His ownership of Tesla (TSLA) adds another $170 billion to his fortune, while his stake in SpaceX amounts to approximately $60 to $70 billion based on recent private stock exchanges.
In addition to SpaceX’s accomplishments, Musk’s fortunes have been skyrocketing on multiple fronts. Tesla’s stock has surged by a remarkable 94% year to date, significantly outperforming the Nasdaq Composite index, and adding an incredible $90 billion to Musk’s personal wealth.
