Monday, June 7, 2010

Report: SpaceX Still Needs $1 Billion To Reach Goals, Despite Successful Launch

A report from the WSJ Monday morning says that Hawthorne-based Space Exploration Technologies Corp. (SpaceX), the commercial space flight venture of Elon Musk, still needs more than $1 billion in funding over the next year or two, to reach its goal of transporting astronauts to the International Space Station. The firm--which saw a successful launch of its Falcon 9 spacecraft into orbit Friday--apparently has nearly run out of cash a number of times between mid-2007 and mid-2009, the WSJ said, citing interviews with Musk in March. Musk, who made his fortune from PayPal, is also behind high-flying electric car firm Tesla Motors.

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