Having become the world’s richest man earlier in January,
Tesla CEO and SpaceX founder Elon Musk is eyeing another business opportunity.

The multi-billionaire, who recently edged past Amazon Founder Jeff Bezos in order to take up the first place in terms of personal
wealth, has reportedly launched 1,000 satellites for Starlink Internet Service,
his newest venture into the telecommunications market, according to a report by
Bloomberg.

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Starlink has already started signing customers up in
countries such as US, UK and Canada. Reportedly, SpaceX has informed its
investors that Starlink will be eyeing a piece of the $1 trillion market
consisting of services like in-flight internet, growing demand in populous
countries such as China and India, as well as noting potential rural customers
in need of faster internet.

SpaceX has been launching the Starlink satellites on its own
Falcon 9 rockets, each rocket consisting of 60 satellites at a time. The 17th
rocket launch was conducted on January 20, 2021, totalling about 960 functioning satellites
in low-Earth orbit at the moment, which is closer compared to the placement of
traditional satellites.

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The current cluster of satellites, however, is enough for
the company to start its services throughout a wide zone in regions such as North
America and the UK. Predictably, with more satellites getting launched, the coverage
area for the company will be gradually getting bigger.

“As we launch more satellites, install more ground
stations and improve our networking software, data speed, latency and uptime
will all improve dramatically,” Kate Tice, a Senior Engineer at SpaceX,
said on a livestream o November about the Starlink mission.