It has been confirmed that Google and Fidelity are investing a total of $1 billion into Elon Musk’s space transportation company, SpaceX. This investment gives both Google and Fidelity just under 10% ownership of SpaceX, which is valued at over $10 billion.
Google wants to use SpaceX satellites to send internet to those areas that have either no or poor access. This could cover as much as 3 billion people. These satellites will not only provide internet access, but also at much faster speeds.
The bad news is that it could take as much as 5 years for this to go live. The cost of the project will be $10 billion, and according to Musk, this investment might be enough to get the first satellites off the ground.
Come comment on this article: Google and Fidelity invest in SpaceX to spread the internet globally
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