Barcelona: The Entrepreneur Elon Musk’s billionaire said Tuesday he planned to invest up to 30 billion dollars to develop his ambitious internet satellite internet service.
Starlink plans to spread thousands of low orbite satellites to provide high-speed internet to an isolated area and not badly connected.
So far it has been deployed more than 1,500 satellites and in August it will be able to provide protection everywhere in the world except North and South Poland, Musk told the cellular Congress, a telecommunications industry conference on Barcelona, ​​with video.
Tesla’s head said he hoped to invest “at least five billion dollars, and maybe as many as ten billion” in Starlink before the service had a positive cash flow.
“Then over time it will be a multiple, and it will be 20 or 30 billion dollars.
It’s basically a lot,” he added.
Starlink currently operates around a dozen countries, with more added, and currently has more than 69,000 active users, said Musk.
“We are on our way, I think of having several hundred thousand users, maybe more than 500,000 users, within 12 months,” he added.
“There is a need for connectivity in places that don’t have it now, or where it’s very limited.” Musk said Starlink had two partnerships with “Main Telcos” companies to develop satellite internet services but did not provide further details.
The spacex company, which operates Starlink, has requested authorization from the US Regulator of the Federal Communication Commission (FCC) to deploy up to 42,000 satellites to provide satellite internet services.
Starlink faces competition from a number of rivals including Oneweb, a broadband satellite communication company obtained by the investor consortium consisting of the British government and Sunil Mittal-LED Bharti Global, and Amazon Kuiper subsidiaries.