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A booming business

According to the Times, the Marubo tribe is just one among the hundreds of tribes in Brazil gaining access to the internet through Starlink.

This innovative internet service is gaining popularity across the globe.

Opening its beta internet service to the public in late 2020, Starlink garnered approximately 10,000 users by February 2021. The momentum only accelerated. By December 2022, Starlink boasted over one million active subscribers.

Fast forward to September 2023, and Starlink's reach extended to more than 60 countries, linking over two million active customers.

The expansion continues to this day.

In a post on X last month, Musk announced that Starlink has surpassed three million customers in 99 countries.

Offering a diverse range of service plans tailored to both individuals and businesses, Starlink possesses significant revenue potential. According to projections from market research firm Quilty Space, Starlink is on track to generate $6.6 billion in revenue in 2024.

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Getting a piece of the action

If you want to invest in Starlink, keep in mind that it’s owned by SpaceX, the aerospace company founded by Musk, which designs, manufactures and launches advanced rockets and spacecraft.

With an ambitious mission to reduce space transportation costs and pave the way for multiplanetary life, SpaceX's vision extends beyond the traditional boundaries of Earthbound companies.

Because SpaceX is a private company, investors can’t buy its shares on the stock market. However, some platforms — such as Rainmaker Securities and Hiive — allow accredited investors to buy shares of private companies, including SpaceX.

To be an accredited investor, you need to have a net worth of over $1 million or an earned income exceeding $200,000 (or $300,000 together with a spouse) in the past two years.

Investors interested in Starlink’s growth may also want to check out other players in the satellite communications industry.

For instance, Iridium Communications (IRDM) provides access to voice and data services through its constellation of 66 interconnected low earth orbit satellites. The company is publicly traded, and has grown its global subscriber base at a compound annual growth rate of 15% over the last five years.

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Jing Pan Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

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