Elon Musk, the firm’s billionaire CEO, is known for making ambitious claims that seem to have been picked straight out of science fiction.
But his outlandish visions have a habit of becoming realised.
SpaceX – Mr Musk’s other firm – has grown from a fledgling rocket company to NASA’s chosen partner to send its astronauts into space.
And electric car company Tesla is another success. The company, while criticised by some analysts for never actually making an annual profit, became the world’s most valuable carmaker last week in terms of its market capitalisation, according to Yahoo Finance figures.
Way back in 2006, Tesla set out its ‘Master Plan’: a list of what the company aims to achieve in the decades ahead.
At that time, the company said its first four steps would be to build an electric sports car, use that money to build an affordable car, and use that money to build an even more affordable car.
The CEO wrote on Twitter: “Long-term purpose of my Tesla stock is to help make life interplanetary to ensure its continuance.
“The massive capital needs are in 10 to 20 years. By then, if we’re fortunate, Tesla’s goal of accelerating sustainable energy and autonomy will be mostly accomplished.”
Mr Musk was replying to a user who had asked him what he would eventually do with his hoard of Tesla shares.
Mr Musk is believed to own roughly 38 million shares in Tesla – representing about one fifth of the company, according to Investopedia figures.
Tesla shares closed at $1,389 USD yesterday, so even if Tesla shares stayed static until Mr Musk cashed all his stocks in, this would amount to just over $52 billion. This would more than double his reported net worth currently.
Mr Musk has claimed that each Starship flight will use about $900,000 worth of fuel to get into orbit, with each mission’s operational costs coming in as little as $2 million.
SpaceX’s much smaller Falcon 9 rocket launches for around $62m.
And for perhaps the most important context of all, Forbes states the cost of NASA’s historic Apollo programme, which put humans on the moon, cost a total of $152 billion in today’s money.
Published at Wed, 08 Jul 2020 05:27:00 +0000