Home ยป Burgeoning Business of Starlink Sustains Cash Flow Surge, Reveals Elon Musk

Burgeoning Business of Starlink Sustains Cash Flow Surge, Reveals Elon Musk

Elon Musk, in his position as SpaceX CEO, has announced through X that the satellite internet service Starlink is now cash flow positive and he commends the excellent work of the team.

Previously, Gwynne Shotwell, SpaceX’s COO, had shared that Starlink would have a positive cash flow in 2022 and the company would start making profits in the first quarter of 2023. Currently, SpaceX considers Starlink as a supplementary business that adds value to the overall business. Musk himself has spun off this satellite internet business into another company and has brought it to the stock market.

Presently, Starlink has deployed over 5,000 communication satellites into space, with plans to increase the number in the future. The number of customers who have subscribed to the satellite internet service now exceeds 2 million.

TLDR: Elon Musk, as SpaceX CEO, announces that Starlink, the satellite internet service, is now cash flow positive. The company has deployed over 5,000 satellites and has over 2 million customers.

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