Elon Musk’s Space X is becoming essential for space programs all over the world, the Wall Street Journal reports.
Space X’s key innovation was the development of reusable rockets, cutting cots for space launches. Since 2022, Space X has flown 66% of American launches, and 88% in the last six months.
Since the breakdown of relations with Russia with the war in Ukraine, Space X has been the dominant launch platform with Russia’s Soyuz out of the market. Jeff Bezos’ Blue Origin has not began commercial launches, and Europe’s Ariane 5 is no longer operational.
Space X is now the only company launching astronauts to the International Space Station, and is also very important to the National Reconnaissance Office’s military satellite launches.
Musk’s stake in Space X is only a small part of his portfolio, since he also owns Twitter and Tesla. While Twitter might not be profitable for Musk right now, his other companies continue to preserve his influence among Big Tech magnates.
