SpaceX
SpaceX rocket fairing reappears on Mr Steven after six week hiatus
A hop and a skip away from SpaceX’s first Falcon 9 Block 5 recovery, the company’s famous fairing recovery vessel Mr Steven was caught by Teslarati photographer Pauline Acalin performing some unusual maneuvers at sea, hauling what can only have been the intact fairing half recovered after SpaceX’s March 30 launch of Iridium NEXT-5.
Why exactly the fairing half was aboard Mr Steven for high-speed trials and eventual delivery to Berth 240 – SpaceX’s future Mars rocket factory – is not entirely clear. The most obvious explanation is that these new operations are in some way related to Falcon 9 payload fairing drop tests hinted at recently by CEO Elon Musk, tests that would allow the company to hone the accuracy of the autonomous parafoils currently used to recover them. In light of Mr Steven’s newly upgraded net, the goal is to gently catch each fairing before they touch down on the ocean’s surface – per SpaceX’s Hans Koenigsmann, even partial immersion in seawater precludes any future attempts at reuse.
SpaceX technicians offload the Iridium fairing half from Mr Steven while docked at Berth 240, SpaceX’s BFR (Mars rocket) factory in-waiting. (Pauline Acalin)
While we originally speculated that water intrusion into the fairing halves’ aluminum honeycomb composite structures – a common failure mode in the history of the material’s use in aerospace – would pose a problem for fairing reuse sans net capture, the actual reason Koenigsmann gave was the fact that the environment inside Falcon fairings must be kept extraordinarily clean to avoid damaging the highly sensitive satellite and spacecraft payloads housed inside. In retrospect, it makes a whole lot of sense that cleaning a fairing thoroughly enough after exposure to seawater/sea spray and its multitudes of organic material, minerals, and simple saltwater could pose an extremely expensive (if not outright intractable) problem for routine reusability. Hence Mr Steven and his wonderfully analog recovery hardware (i.e. a giant net).
-
- Fairing aboard, Mr Steven performed rapid turns and high-speed sprints with the fairing half aboard. (Pauline Acalin)
-
- Mr Steven and his fancy net 2.0, caught on May 7. Bright yellow…for style. (Pauline Acalin)
-
- On May 16, he arrived at Berth 240 with fairing half in tow. (Pauline Acalin)
-
- Note the distinctive yellow netting draped over the fairing stand aboard Mr Steven. It’s unclear if this is actually the new yellow net spotted last week, or if it’s actually webbing dedicated to securing the fairing cradle. (Pauline Acalin)
-
- It’s unclear why the Iridium fairing has been brought once again to Berth 240, aside perhaps from temporary storage. (Pauline Acalin)
After approximately six weeks of rest after its return to Port of San Pedro aboard Mr Steven, the fairing half found itself speeding around the mouth of Port of San Pedro aboard the net boat Mr Steven on May 16, after which it was carefully offloaded at SpaceX’s recently-leased Berth 240 facilities, set to one day become the company’s first Mars rocket and spaceship factory (currently housed in a giant tent a few miles away).
A careful scan of the day’s aviation activities showed no tracked helicopter flights that could have been involved in fairing drop tests, and it’s equally implausible that SpaceX would choose (or be permitted) to attempt to catch a 1000 kg autonomous parafoil a handful of miles from densely populated Los Angeles. Mr Steven’s distinctive yellow net – a brand new upgrade – was also visibly strewn about the vessel’s deck, over top of a basic wooden fairing stand, atop of which sat the sooty Iridium fairing half. Given the lengthy journey, it has made to be aboard Mr Steven, May 16’s unusual day of testing is presumably just the beginning of a number of outings, perhaps culminating in fairing drop and catch tests with a helicopter.
-
- Regardless of why it’s there, the contrast of the dilapidated urban landscape and cutting-edge flight-proven rocket hardware is absolutely breathtaking.(Pauline Acalin)
-
- Jump maybe 6 months ahead, and one can already begin to imagine that the first BFS test article may end up being craned aboard a barge before the exact same backdrop. (Pauline Acalin)
Regardless, the whole event was an incredible spectacle, caught in awesome detail by Pauline Acalin. One can only begin to imagine what other sights might one day – perhaps fairly soon – grace the dramatic dockside space SpaceX now owns at Berth 240.
-
- It’s difficult to imagine how Mr Steven’s already vast net could plausibly be expanded by a factor of two in each dimension. I certainly can’t wait to see how SpaceX engineers and technicians tackle the task. (Pauline Acalin)
-
- Fairing aboard, Mr Steven performed rapid turns and high-speed sprints with the fairing half aboard. (Pauline Acalin)
-
- Mr Steven and the Iridium fairing half berthed at SpaceX’s Berth 240. (Pauline Acalin)
-
- Mr Steven returns to port with the Iridium fairing half aboard. (Pauline Acalin)
-
- Mr Steven out and about with a recovered but unreusable fairing half in May 2018, presumably for some sort of practice. (Pauline Acalin)
-
- Mr Steven returns to port with the Iridium fairing half aboard. (Pauline Acalin)
Follow us for live updates, behind-the-scenes sneak peeks, and a sea of beautiful photos from our East and West coast photographers.
Teslarati – Instagram – Twitter
Tom Cross – Twitter
Pauline Acalin – Twitter
Eric Ralph – Twitter
Elon Musk
SpaceX IPO could push Elon Musk’s net worth past $1 trillion: Polymarket
The estimates were shared by the official Polymarket Money account on social media platform X.
Recent projections have outlined how a potential $1.75 trillion SpaceX IPO could generate historic returns for early investors. The projections suggest the offering would not only become the largest IPO in history but could also result in unprecedented windfalls for some of the company’s key investors.
The estimates were shared by the official Polymarket Money account on social media platform X.
As noted in a Polymarket Money analysis, Elon Musk invested $100 million into SpaceX in 2002 and currently owns approximately 42% of the company. At a $1.75 trillion valuation following SpaceX’s potential $1.75 trillion IPO, that stake would be worth roughly $735 billion.
Such a figure would dramatically expand Musk’s net worth. When combined with his holdings in Tesla Inc. and other ventures, a public debut at that level could position him as the world’s first trillionaire, depending on market conditions at the time of listing.
The Bloomberg Billionaires Index currently lists Elon Musk with a net worth of $666 billion, though a notable portion of this is tied to his TSLA stock. Tesla currently holds a market cap of $1.51 trillion, and Elon Musk’s currently holds about 13% to 15% of the company’s outstanding common stock.
Founders Fund, co-founded by Peter Thiel, invested $20 million in SpaceX in 2008. Polymarket Money estimates the firm owns between 1.5% and 3% of the private space company. At a $1.75 trillion valuation, that range would translate to approximately $26.25 billion to $52.5 billion in value.
That return would represent one of the most significant venture capital outcomes in modern Silicon Valley history, with a growth of 131,150% to 262,400%.
Alphabet Inc., Google’s parent company, invested $900 million into SpaceX in 2015 and is estimated to hold between 6% and 7% of the private space firm. At the projected IPO valuation, that stake could be worth between $105 billion and $122.5 billion. That’s a growth of 11,566% to 14,455%.
Other major backers highlighted in the post include Fidelity Investments, Baillie Gifford, Valor Equity Partners, Bank of America, and Andreessen Horowitz, each potentially sitting on multibillion-dollar gains.
Elon Musk
SpaceX considering confidential IPO filing this March: report
The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion.
SpaceX is reportedly preparing to confidentially file for an initial public offering (IPO) as soon as March. The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion, potentially making it the largest IPO in history.
The update was initially reported by Bloomberg News, which cited information shared by people reportedly familiar with the matter.
As per the publication, a confidential filing allows a company to receive regulatory feedback before publicly releasing its financials. Bloomberg’s source, however, noted that the timing of SpaceX’s IPO is still under discussion and plans could change.
SpaceX did not immediately respond to requests for comment.
A March submission would mark the clearest step yet toward bringing Elon Musk’s private space company into public markets. People familiar with the preparations said the offering could raise as much as $50 billion. That would surpass the $29 billion debut of Saudi Aramco in 2019, currently the largest IPO on record.
Major banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, and Bank of America Corp. are reportedly positioned for senior roles in the transaction. SpaceX is also said to be considering a dual-class structure that would allow insiders, including Musk, to retain enhanced voting control.
Satellite communications provider EchoStar Corp., which holds a stake in SpaceX, reportedly saw its shares rise following news of the potential filing.
At a valuation exceeding $1.75 trillion, SpaceX would immediately have a larger market cap than all but five of the companies traded in the S&P 500 index. That figure would place it ahead of Meta Platforms Inc. and Tesla Inc. by market capitalization, trailing only a small group of mega-cap firms such as Apple Inc. and Microsoft Corp.
The scale of the proposed valuation reflects SpaceX’s dominance in orbital launch services and its Starlink satellite network, which serves millions of users globally. The company has also outlined long-term expansion plans tied to higher Starship launch cadence, orbital infrastructure, and lunar development initiatives.
Elon Musk
Elon Musk outlines plan for first Starship tower catch attempt
Musk confirmed that Starship V3 Ship 1 (SN1) is headed for ground tests and expressed strong confidence in the updated vehicle design.
Elon Musk has clarified when SpaceX will first attempt to catch Starship’s upper stage with its launch tower. The CEO’s update provides the clearest teaser yet for the spacecraft’s recovery roadmap.
Musk shared the details in recent posts on X. In his initial post, Musk confirmed that Starship V3 Ship 1 (SN1) is headed for ground tests and expressed strong confidence in the updated vehicle design.
“Starship V3 SN1 headed for ground tests. I am highly confident that the V3 design will achieve full reusability,” Musk wrote.
In a follow-up post, Musk addressed when SpaceX would attempt to catch the upper stage using the launch tower’s robotic arms.
“Should note that SpaceX will only try to catch the ship with the tower after two perfect soft landings in the ocean. The risk of the ship breaking up over land needs to be very low,” Musk clarified.
His remarks suggest that SpaceX is deliberately reducing risk before attempting a tower catch of Starship’s upper stage. Such a milestone would mark a major step towards the full reuse of the Starship system.
SpaceX is currently targeting the first Starship V3 flight of 2026 this coming March. The spacecraft’s V3 iteration is widely viewed as a key milestone in SpaceX’s long-term strategy to make Starship fully reusable.
Starship V3 features a number of key upgrades over its previous iterations. The vehicle is equipped with SpaceX’s Raptor V3 engines, which are designed to deliver significantly higher thrust than earlier versions while reducing cost and weight.
The V3 design is also expected to be optimized for manufacturability, a critical step if SpaceX intends to scale the spacecraft’s production toward frequent launches for Starlink, lunar missions, and eventually Mars.
Tesla FSD (Supervised) fleet passes 8.4 billion cumulative miles
Elon Musk fires back after Wikipedia co-founder claims neutrality and dubs Grokipedia “ridiculous”
