Elon Musk is known for his key roles in Tesla, SpaceX, and X (Twitter). Since 2025, he has been said to be a senior advisor to U.S president, Donald Trump and head of the department of government.
SpaceX is a private space technology company that aims to revolutionize space travel, focusing on reusable rockets, human spaceflights, etc, and was funded in 2002. SpaceX is privately held and does not issue detailed breakdowns.
Currently, SpaceX is worth approximately $350 billion, which makes it one of the most valuable private companies in the world. Today, Starlink accounts for about 60% of SpaceX’s total revenues and 75% of its total EBITDA.
SpaceX is funded by Greg Abbott, NASA, etc. It has been said that he is funding SpaceX because he wants an incentive program to encourage semiconductor research, development and manufacturing.
Greg Abbot has announced that Elon Musk’s SpaceX will receive the fifth Texas semiconductor innovation Fund Grant, which will lead to an amount of $17.3 million. This funding will support the expansion of semiconductor research and development.
The funding will be used to help the SpaceX manufacturing site in Bastrop Country, about 45 minutes outside of Austin, Texas.
It has been said that they are funding this because it is NASA’s biggest contractor. Also, it is a big help to people in space or working on space things, for example, NASA.
The government is also funding SpaceX and said that the money helped SpaceX ramp up its infrastructure, allowing to build and launch rockets for NASA and other clients. The government funded $2.2 billion for SpaceX.
Over the years, the government has continued investing in SpaceX, NASA alone contributing $14.9 billion for various space missions. It has also been said that he is businesses have collected a reported $38 billion in government funds.
SpaceX makes its money by launching rockets into space, which hasn’t recently worked out well. Although, SpaceX has some benefits such as an educational outreach for the next generation of space explorers, economic growth, etc. Even with all these benefits, there have still been some things that have happened that aren’t good.
SpaceX has launched rockets over the past and there have been some that have exploded. On March 6th, 2025, SpaceX sent a rocket out which failed and had lost several engines and attitude control, which had caused the rocket to explode near the Florida Keys.
So far, this year, there has been about 2 rockets that have exploded from SpaceX. It has been said that SpaceX has received significant funding from the U.S. government through contracts with NASA and the Department of Defense, which have been crucial to the company’s growth and development.
