The Financial Toll of a SpaceX Explosion is Staggering

From an article at futurism.com:

In September of last year, SpaceX suffered a major setback that postponed any launches until earlier this month.

The failed launch cost the company more than $740 million.

Still, the company reports no debt and plans to launch a total of 4,425 satellites to deliver high-speed internet to the globe.

A few minutes after SpaceX launched one if its self-landing Falcon 9 rockets on June 28, 2015, it exploded into a rain of debris over the Atlantic Ocean.

NASA had a bunch of cargo riding on top of the rocket, and it tallied its losses at about $112 million. Meanwhile, SpaceX — founded by tech entrepreneur Elon Musk — lost tens of millions it had invested in the launch itself.

But as new financial documents obtained by the Wall Street Journal suggest, the total financial hit to SpaceX may have run into hundreds of millions of dollars.

“The company lost $260 million in 2015 when one of its Falcon 9 rockets, carrying two tons of cargo to the international space station, exploded shortly after liftoff,” writers Rolfe Winkler and Andy Pasztor reported for The Journal.

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Image Credit:  SpaceX

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2017-02-25T10:47:41+00:00

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