World’s richest man Elon Musk warns of SpaceX ‘bankruptcy’ unless Starship engine ‘production crisis’ for missions to Mars is solved
Elon Musk, the world’s richest man and CEO of both SpaceX and Tesla, told employees that the aerospace company could face bankruptcy if they did not produce Raptor engines more frequently, according to a SpaceX email obtained by CNBC.
Muschio, 50, was reportedly angry with the lack of progress on his Starship rocket engines, which the company needs as many as 39 per ship to complete missions to the moon and Mars, as well as for its Starlink satellite program.
‘The Raptor production crisis is much worse than it seemed a few weeks ago,’ Musk wrote just before the Thanksgiving holiday.
‘We face genuine risk of bankruptcy if we cannot achieve a Starship flight rate of at least once every two weeks next year.’
A SpaceX email from CEO Elon Musk to employees revealed the billionaire’s worries that if the company could not solve its engine production problems, it could face bankruptcy
The Starship rocket SpaceX is designing to complete missions to the moon and Mars needs as many as 39 Raptor engines to fly. A test in February ended in failure
In febbraio 2, the massive rocket attempted its first high-altitude test but was unable to stick the landing that finished with a deafening crash and exploded into bright orange flames
The Starship is a massive, next-generation rocket SpaceX is developing for missions to the moon and Mars.
The first high-altitude test of the rocket and its Raptor engines in February ended in a massive explosion when one of the two engines failed to re-ignite before landing. The ship made a successful landing late in May.
The company will need as many as 39 Raptor engines for its missions, and Musk appeared concerned that SpaceX would not be able to produce enough engines for bi-monthly flights in 2022.
Musk had been reviewing the company’s work after the departure of former Vice President of Propulsion Will Heltsley earlier this month when he discovered things were ‘far more severe’ than he thought, Segnalato dalla CNBC.
The CEO opted to cut his Thanksgiving holiday short to work on the engine production line on Friday and over the weekend.
‘We need all hands on deck to recover from what is, francamente, a disaster,’ Musk wrote in the email.
SpaceX is currently valued at $100 billion and had become the world’s second-most valuable private company in October.
Musk also said he wanted the company’s Starlink satellite program, which has launched about 1,700 satellites to date, to move to using Starship rockets instead of the Falcon rockets that have been used so far.
SpaceX did not immediately respond to DailyMail.com’s request for comment.
Musk said the company needed to ramp up production of the Raptor engines in order to complete bi-monthly test flights in 2022
Musk hopes to used the massive Starship rocket and its engines to conduct missions to space
Musk has said SpaceX would hopefully launch its first orbital Starship flight in January or February, pending on approval from the Federal Aviation Administration.
The space craft is also meant to fully reusable thanks to its planned landing capabilities.
SpaceX had seen success after it’s Inspiration4 craft launched the first ever space flight with only civilians on board in September. The crew- Jared Isaacman, Hayley Arceneaux, Sian Proctor and Chris Sembroski- spent three days orbiting Earth before safely descending in the Atlantic Ocean.
The Inspiration 4 equipaggio (L-R) Chris Sembroski, Sian Proctor, Jared Isaacman and Hayley Arceneaux enjoyed three days in space aboard a SpaceX flight in September
Musk made headlines in recent weeks after the billionaire began offloading Tesla stocks, vendita $7.8 billion by November 16 before selling another $1 billion last week.
The most recent sale of 934,091 shares was announced in a stock filing last week. Some of the shares were sold in part to satisfy tax obligations related to an exercise of stock options.
Musk and his trust still hold more than 169 million shares in the company, secondo CNBC.
Musk’s financial maneuvers this month have shrunk his prospective tax bill by about $480 milioni, il giornale di Wall Street stime. The moves put substance behind the mogul’s public arguments with lawmakers over tax policy.
Musk moved Tesla’s headquarters to Austin, Texas, away from Silicon Valley last month, setting the electric car business near SpaceX’s home in Boca Chica, where all launches are being tested from.