SpaceX’s Starlink division has agreed to build a satellite ground station on the Isle of Man in the UK. The company already has two such stations in the country, and with the advent of the third, broadband Internet from Starlink will cover all regions of the UK.
Starlink is set to reach global internet coverage as early as September this year, with a total of 1,800 satellites in orbit. The company has been working on launching 42,000 Starlink satellites into orbit by 2027 to support its global broadband signal.
Starlink is a division of SpaceX: Elon Musk has repeatedly announced his intention to make Starlink a separate company and make it public. In this case, a portion of SpaceX shares will be converted into Starlink stocks. At the last investment round in February this year, SpaceX’s valuation was $74 billion. Morgan Stanley predicts a capitalization of Starlink alone of $175 billion when all satellites are launched.
Clients of the Global Technologies Private Portfolio managed by Raison Asset Management acquired SpaceX shares in September 2019. Their current return on this investment is 129%.