Google and Fidelity invest $1 billion in SpaceX


Google and Fidelity Investments have invested $1 billion in SpaceX, Elon Musk's private spacecraft company.
The Wall Street Journal reports that the investment values SpaceX at more than $10 billion. Thanks to the investment, Google and Fidelity will collectively own 10 percent of SpaceX.
The deal emphasizes Google's effort to provide internet by satellite, which would increase the number of people who can use Google programs, the Journal notes. It also gives SpaceX more money for Musk to "pursue dreams of going to Mars," The New York Times reports.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Meghan DeMaria is a staff writer at TheWeek.com. She has previously worked for USA Today and Marie Claire.
-
'Russia's position is fragile'
Instant Opinion Opinion, comment and editorials of the day
-
The noise of Bitcoin mining is driving Americans crazy
Under the Radar Constant hum of fans that cool data-centre computers is turning residents against Trump's pro-cryptocurrency agenda
-
May 30 editorial cartoons
Cartoons Friday's political cartoons include the Gipper's message to Russia, the U.S. Constitution, TACOS ruining Trump's parade, and grift at the White House.
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect