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.
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.
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.
-
The ‘eclipse of the century’ is coming in 2027Under the radar It will last for over 6 minutes
-
Striking homes with indoor poolsFeature Featuring a Queen Anne mansion near Chicago and mid-century modern masterpiece in Washington
-
Why are federal and local authorities feuding over investigating ICE?TODAY’S BIG QUESTION Minneapolis has become ground zero for a growing battle over jurisdictional authority
-
TikTok secures deal to remain in USSpeed Read ByteDance will form a US version of the popular video-sharing platform
-
Unemployment rate ticks up amid fall job lossesSpeed Read Data released by the Commerce Department indicates ‘one of the weakest American labor markets in years’
-
US mints final penny after 232-year runSpeed Read Production of the one-cent coin has ended
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
