Intesa Sanpaolo Focuses On Innovation And Invests In Elon Musk’s SpaceX

Innovation is in the DNA of the banking group Intesa Sanpaolo, which announced on Friday, October 5, that it had “invested in SpaceX” (Space Exploration Technologies Corporation). This aerospace company belongs to billionaire Elon Musk, who also owns Tesla and the X social network (formerly Twitter).

According to the message from the Intesa Sanpaolo group, the decision was made “in accordance with the business plan for 2022-2025, in which innovation is one of the pillars.” Intesa Sanpaolo reminded that “SpaceX is a private company based in Hawthorne, California, and is a world leader in space exploration.”

Intesa Sanpaolo chose not to specify the size of its stake in SpaceX that seeks to reduce the cost of space travel and colonize Mars. However, writes the Economics supplement to the Italian newspaper Corriere della Sera, “neither the size of the stake, nor the amount paid by Intesa for its acquisition has been disclosed. It recently turned out that some SpaceX shareholders put the company’s shares up for sale at a price of $81, and the package is valued at $140 billion.”

“SpaceX,” writes Intesa Sanpaolo, “has become known throughout the world thanks to a number of historical endeavors. It is the only private company capable of launching a spacecraft into orbit and returning it to Earth. In 2012, Dragon became the first commercial spacecraft to carry cargo to and from the International Space Station, and in 2020, it became the first private company to carry people to the same station. Its Falcon 9 is still the first and only reusable space module (rocket). This allows SpaceX to reuse the ship’s most expensive components, thereby reducing the cost of access to space travel.”

Based on these important achievements, SpaceX is developing the Starship project. It provides for the creation of a new generation of fully reusable space launch vehicles. They will be the most powerful ever created and capable of transporting people to Mars and other destinations of the solar system.

SpaceX can also rely on its extensive experience in space launch vehicles and in-orbit operations to develop the most advanced broadband Internet communications systems. Starlink is the first most widespread satellite Internet system on the planet, capable of offering high-speed connections around the world, supporting streaming services, online games, video calls, and much more.

“In these circumstances, Intesa Sanpaolo recognized the particularly important role of the aerospace sector in the development of the global economy and therefore decided to invest in a player who has demonstrated an advanced vision for the near future,” emphasized one of the largest international credit institutions.