SpaceX will spend up to $2 billion on the Starship rocket this year alone

Elon Musk expects SpaceX to spend up to $2 billion on further development of its Starship rocket this year, as the company tries to work toward its first launch after a failed launch earlier this month.

"My expectation for the next flight is that the rocket will reach Earth orbit," Musk said during a Twitter Space discussion Saturday night.

While SpaceX does secondary rounds about twice a year to give employees and other company shareholders a chance to sell shares, Musk said the company "does not anticipate the need to raise funds" to further bolster the Starship program. and his other ventures, he reports CNBC, the Telegraph reports.

"Based on the information that I have, we do not need to raise additional funds for SpaceX," added Musk.

Regarding the first dramatic launch of the rocket on April 20, the executive director of SpaceX had these words: "The result was almost what I expected, and maybe even a little better than my expectations."

SpaceX has many more prototypes in various stages of assembly and aims to launch its next attempt to reach space with the top rocket in a few months.

"The purpose of these missions is only to obtain information. We don't have any payload inside it — but we just want to learn as much as we can about space," Musk said.

The probability of getting a Starship into orbit this year Musk says is "probably" in the 80 percent range, but said he thinks there's "also a 100 percent chance of getting into orbit within 12 months." ". /Telegraph/