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  • Friday, April 26, 2024
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SpaceX Anticipates Spending About $2B on Starship Rocket

SpaceX Founder and CEO Elon Musk said the company expects to spend approximately $2 billion on the Starship rocket program in 2023 and might not need to seek outside funding to support the initiative, The Wall Street Journal reported Saturday.

“To the best of my knowledge, we do not need to raise incremental funding for SpaceX,” Musk said during an audio chat on Twitter Saturday.

The Starship vehicle is meant to support satellite launches and deep space missions.

In November, SpaceX secured a potential $1.15 billion contract modification from NASA to continue development work on its Starship human landing system and provide a second manned demonstration landing on the moon as part of the agency’s Artemis program.

The rocket had its first test mission on April 20 but exploded about four minutes after liftoff due to a flight-termination system on the vehicle.

The company is also working to establish additional ground infrastructure at its launchpad in Texas, according to the report.

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