- Elon Musk said Starlink’s now breaking even and now accounts for the “majority” of satellites in orbit.
- He’s previously said Starlink may be spun off from SpaceX when it stops losing money.
- Starlink’s been the source of controversy, especially over its use in the Ukraine war.
Elon Musk’s Starlink is no longer losing money, according to the SpaceX CEO.
Musk announced in a post on X on Thursday that the satellite operator is now breaking even, fueling speculation that it may be spun off from SpaceX in the near future.
Excited to announce that @SpaceX @Starlink has achieved breakeven cash flow! Excellent work by a great team.
Starlink is also now a majority of all active satellites and will have launched a a majority of all satellites cumulatively from Earth by next year.
— Elon Musk (@elonmusk) November 2, 2023
Musk has discussed spinning off Starlink in the past, posting in 2020 that he would “probably IPO Starlink” but only once “revenue growth is smooth & predictable.”
At the time, Starlink was losing money hand over fist, with Musk saying the main goal was “not to go bankrupt” in 2021. Now, however, that criteria appears to have been met, suggesting an IPO could be on the cards.
Despite its success, Starlink has created headaches for Musk in recent years. After allowing Ukraine’s military to use Starlink, he was accused of thwarting a major assault on the Crimea after refusing a request to extend its coverage to the region.
According to Walter Isaccson’s biography of Musk, the SpaceX CEO was not comfortable with Starlink’s use in armed conflict. He complained it was “not meant to be involved in wars” and was instead intended for people to “watch Netflix and chill and get online for school.”
However, Musk said last weekend he’d make Starlink’s satellite available for aid organizations in Gaza after internet access was cut off, in a move fiercely criticized by the Israeli government.
Meanwhile, another of Musk’s startups, X.AI, is preparing to join the AI arms race by unveiling its first AI model.
Musk said on X the company would release its first AI “to a select group” on Saturday, and teased that “in some important respects, it is the best that currently exists.”
SpaceX did not immediately respond to a request for comment from Insider, made outside normal working hours.
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