SpaceX secures over $8 billion in Golden Dome contracts

Investing.com -- SpaceX has reportedly won more than $8 billion in contracts related to the Golden Dome program, representing at least one-third of the total budget allocated for the project. The company was selected to provide military data satellites and rocket launches for the program.

This year, SpaceX has obtained billions of dollars in government contracts to build and launch military satellites. The awards came after lawmakers attempted to increase opportunities for other contractors to compete for the work, the Wall Street Journal said in a report on Thursday.

The Trump administration has permitted SpaceX to bypass certain wireless network requirements. Officials are also working to reduce environmental reviews associated with rocket launches, the report added.

SpaceX operates as the world's most active rocket launcher, routinely sending satellites and other cargo to orbit from several launch sites. The company has an established track record on high-profile government projects.

Elon Musk, SpaceX's founder, maintains close connections with President Trump. Musk campaigned alongside Trump in the previous election and held an advisory position in the White House. He plans to spend at least $100 million supporting Republican candidates in the upcoming midterm elections.

Seperately, Federal transportation officials proposed in July to reduce environmental oversight of space-related activities. The proposal would exempt launches and spaceport development from laws requiring federal agencies to evaluate environmental impacts and alternatives.

The Federal Communications Commission approved SpaceX's plan in May to purchase spectrum rights for connecting mobile phones with satellites. The FCC waived a requirement that the wireless resource owner maintain ground infrastructure to ensure specific cellular service levels nationwide. The commission stated in an order that maintaining the rule would burden SpaceX and that the company's network would advance U.S. leadership in connectivity.

You May Also Be Interested In

• SpaceX shares fall as second lockup period ends
• Anthropic plans IPO potentially exceeding SpaceX's $86B record - Bloomberg
• Amazon commits $2 billion to expand Prime Video across Latin America through 2030