Against the background of the fierce fighting in eastern Ukraine, last night the government in the country asked for the help of the CEO of a company.
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(NYSE: TSLA) and SpaceX (Private) by running its satellite network services – Starlink, to assist the country with an Internet connection.
As mentioned, on the night between Saturday and Sunday, the Vice President of Ukraine and the Minister of Digital Transformation of the country, Mikhail Fedorov, in a tweet on Twitter asked the operation of the satellite network by SpaceX, a request to which Alon Musk responded a few minutes later.
Fedorov’s request apparently came in the best platform he could find Musk, when it garnered close to 75 million followers on the social network. As for the platform itself, Starlink is a satellite network that provides Internet access, a service that SpaceX has recently started offering.
The satellite network is required for the Terminal, a kind of panel installed on the roofs of buildings and used for the reception and processing of the Internet. According to Musk, the same terminals have already been sent to the borders of Ukraine, although it is not clear now how many of them, and how Ukraine plans to put them into use. On the other hand, there is no doubt that it is much harder to damage Starlink’s internet connectivity during a war than any other type of wired system based on wired systems or solar towers.
Currently, there are about 2,000 satellites that the company launched into space and are currently in a low orbital orbit around the Earth. Musk, who has previously announced that satellites work best in rural areas where normal reception is not optimal, added that the company is working to increase the network’s transmission capabilities around the world in a gradual and gradual manner.
The second company that Musk owns, which is the electric vehicle giant Tesla, is known to be a trading company. The company’s market value now stands at $ 837 billion and the stock’s share price this morning stands at $ 809.87 per share, close to 30% less than the peak at which it traded at the beginning of the year – $ 1147.75 per share.
The stock is trading relatively low now, especially due to inflationary difficulties that are currently sweeping the US economy and affecting consumers’ habits in part, along with a significant number of recalls of the company’s vehicles, the global chip supply crisis, and the immediate geopolitical difficulties. Just for comparison, the S&P 500 was down nearly 8% over the same period, and the Dow Jones Industrial Average was down 6% overall.
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