• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, June 16, 2026
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

SpaceX Rocket Explosion Impacts Musk, Mark And Millions !

by Dipti Gore
September 2, 2016
in News
Reading Time: 3 mins read
0
SpaceX Rocket Explosion Impacts Musk, Mark And Millions !
TwitterWhatsappLinkedin

spacex rocket explosion

You might also like

Chime Revenue and Valuation Inside the Financial Engine of America’s Neobank Leader

Best Laptops Under ₹70,000 in 2026: 9 Models That Offer the Most Value

Sarvam Joins the Unicorn Club: Why India’s Biggest AI Bet Comes at the Perfect Time

On 1st September, SpaceX confirmed that in preparation for one of its standard pre-launch static fire test, there was an anomaly on the pad resulting in the loss of the vehicle and its payload. Although the pad was cleared and there were no reported injuries, there were still millions lost during the explosion.

In a tweet, Elon Musk stated that the loss of Falcon was during one of its propellant filling operation and the origin was around the upper stage oxygen tank.

Loss of Falcon vehicle today during propellant fill operation. Originated around upper stage oxygen tank. Cause still unknown. More soon.

— Elon Musk (@elonmusk) September 1, 2016

This incident is a major setback for all the successful launches that SpaceX had been doing in the past few months. The result of the explosion had witnessed shares of Musk’s companies Tesla Motors and SolarCity crashing down to 4 per cent at US$203.65 and 5.5 per cent at US$19.50 respectively in morning trade.

Here’s what happened during the anomaly from US Launch Report

Musk lost $ 320 million in the explosion, and the impact of the unfortunate incident extends to Mark Zuckerberg and the people in Africa. Less than a year ago, Zuckerberg said in a post that as a part of his ambitious project Internet.org, Facebook was partnering with Eutsat to launch satellite into orbit that will connect millions of people. In his statement, he mentioned that,

“A new satellite called AMOS-6 is going to provide internet coverage to large parts of Sub-Saharan Africa. The AMOS-6 satellite is under construction now and will launch in 2016 into a geostationary orbit that will cover large parts of West, East and Southern Africa. We’re going to work with local partners across these regions to help communities begin accessing internet services provided through satellite.”

Update on this morning’s anomaly pic.twitter.com/1ogCMPCY44

— SpaceX (@SpaceX) September 1, 2016

The AMOS-6 satellite was owned by the Israeli-based satellite operator Space Communications (Spacecom) and was built in collaboration with Israeli Space Industries.

According to a report by SpaceNews, Facebook and Eutelsat had a contract to lease the AMOS-6 satellite for $95 million over 5 years. That article also reported that the contract required Spacecom to purchase an insurance policy “covering project-related risks that would not otherwise be covered by Spacecom’s own insurance policy covering the satellite’s launch and first year in orbit.”

Zuckerberg who is presently in Africa, expressed his deep disappointments to hear about the destroyed satellite in a Facebook post.

To one of the comments regarding the insurance coverage, Mark replied

“The problem isn’t the money; it’s that now it may take longer to connect people.”

We all can agree that both Mark and Musk have innovated in so many different ways in the recent years. While the former had been trying to connect the people of the world to each other, the latter had been trying to connect the people of the world to Mars. Let us hope they stay connected after this unfortunate incident for everyone’s betterment.

Related Read: The Companies Fighting For A Space In The Space Tech !

Tags: ConnectivityElon MuskfacebookFailure ReasonsFalcon 9InternetInternet.orgMark ZuckerbergRocket launchSpaceX
Tweet54SendShare15
Previous Post

When Is Your Startup Fundable Enough To Approach An Angel Investor ?

Next Post

Reliance Industries Plans To Invest Rs 5,000 Crore In Start-Ups

Dipti Gore

Recommended For You

Chime Revenue and Valuation Inside the Financial Engine of America’s Neobank Leader

by Anochie Esther
June 16, 2026
0
Chime revenue and valuation

The consumer financial technology ecosystem has undergone a massive shift from late-stage venture hype to strict public market readiness. Standing at the absolute top of the American digital...

Read more

Best Laptops Under ₹70,000 in 2026: 9 Models That Offer the Most Value

by Thomas Babychan
June 15, 2026
0
Best Laptops Under ₹70,000 in 2026: 9 Models That Offer the Most Value

Buying a laptop has become a more complicated decision than it was just a few years ago. The market is packed with machines that promise faster processors, longer...

Read more

Sarvam Joins the Unicorn Club: Why India’s Biggest AI Bet Comes at the Perfect Time

by Ishaan Negi
June 15, 2026
0
Sarvam Joins the Unicorn Club: Why India’s Biggest AI Bet Comes at the Perfect Time

India's artificial intelligence race has found a new champion. Bengaluru-based AI startup Sarvam has officially entered the unicorn club after raising $234 million in the first close of...

Read more
Next Post
Reliance Industries Plans To Invest Rs 5,000 Crore In Start-Ups

Reliance Industries Plans To Invest Rs 5,000 Crore In Start-Ups

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at info@techstory.in

Advertise With Us

Reach out at - info@techstory.in

Aviator Game India 2026

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News OpenAI samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2025 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2025 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?