Elon Musk Set To Invest Up To $30 Billion In Satellite Internet Service Starlink

Starlink plans to deploy thousands of low-orbit satellites to provide high-speed internet to isolated and poorly connected areas.

Billionaire entrepreneur Elon Musk said Tuesday he plans to invest up to 30 billion dollars to develop his ambitious Starlink satellite internet service. Starlink plans to deploy thousands of low-orbit satellites to provide high-speed internet to isolated and poorly connected areas. It has so far deployed over 1,500 satellites and by August it will be able to provide coverage everywhere in the world except the North and South Poles, Musk told the Mobile World Congress, a telecoms industry conference underway in Barcelona, by video. The Tesla chief said he expects to invest "at least five billion dollars, and maybe as much as ten billion" in Starlink before the service has a positive cash flow.