Revolutionising the space industry with the ultimate goal of enabling people to live on other planets.
With the luxury of a blank piece of paper, SpaceX was able to structure its business and design philosophy around simplicity, innovation and affordability.
Today the company makes most of its revenue from launching satellites into orbit for government and corporate customers, but it continues to invest in future growth.
We are especially excited by the potential to unlock large opportunities in global internet connectivity via its ‘Starlink’ satellite network. The Starlink satellites in orbit envelope the Earth and offer broadband connectivity to users, especially those in rural areas without fixed-line connections. Starlink can therefore be an option for those living in remote areas who don't have access to affordable broadband. It has more than 400,000 users worldwide, has partnered with airlines and cruise ships, and has enabled entire countries experiencing outages to get back online.
Elon Musk, the visionary founder of Tesla, believed that by now, we would have seen massive leaps forward in space travel. When he realised that there wasn’t much progress in the pipeline, he decided to drive it forward himself and so came into existence SpaceX. Musk says, “By no means did I think victory was certain. On the contrary, I thought the chances of success were tiny but that the goal was important enough to try anyway.”
in December 2018.
The company showcased on this page is part of a diversified portfolio. The commentary should not be taken as advice on an individual stock.
Image Credit - © SPACEX
Investment trusts are UK public companies and are not authorised and regulated by the Financial Conduct Authority. You may not get back the amount invested and please bear in mind that past performance is not a guide to future performance.