SpaceX

SpaceX, formally Space Exploration Technologies Corporation, was founded by Elon Musk on March 14, 2002, with the stated goal of reducing space transportation costs to enable the colonization of Mars. The company began operations in a small warehouse in El Segundo, California, after Musk failed to purchase a refurbished Russian rocket for a project called Mars Oasis. Instead, he decided to build his own. From those early days, SpaceX pursued a philosophy of vertical integration and rapid iteration, developing nearly all components in-house.

The company achieved its first major breakthrough in 2008 when the Falcon 1 became the first privately developed liquid-fueled rocket to reach orbit. This success led to a $1.6 billion NASA contract for cargo resupply missions to the International Space Station. Over the following decade, SpaceX pioneered orbital rocket reusability, landing and reflying Falcon 9 boosters. In 2020, it became the first private company to send astronauts to the ISS, aboard the Crew Dragon spacecraft.

Today, SpaceX operates three primary business divisions: launch services, satellite internet via Starlink, and artificial intelligence. The company's Falcon 9 and Falcon Heavy rockets dominate the global launch market, executing 165 orbital launches in a recent 12-month period. Starlink has grown to approximately 10.3 million subscribers and accounts for roughly 60% of SpaceX's revenue. The company is also developing Starship, a fully reusable super-heavy-lift vehicle intended for missions to the Moon, Mars, and beyond. As of 2025, SpaceX reported $18.7 billion in revenue, though it posted a net loss of $4.9 billion due to heavy capital expenditure on Starship and Starlink expansion. [edit]