Musk’s Starlink Gives Space Lenders a Crisis of Confidence
Eutelsat and SES’s debt plunged as the US President’s ally disrupts space race
Elon Musk and Donald Trump in the Oval Office on Feb. 11.
Photographer: Aaron Schwartz/CNPWelcome to The Brink. It’s Eleanor Duncan and Abhinav Ramnarayan in London, where we looked at the debacle of satellite companies facing Starlink competition. We also have news on Altice, FTX and Evergrande. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
In September, Elon Musk wrote on X — the social media platform he owns — that SpaceX’s Starlink constitutes roughly two-thirds of all active Earth satellites. Since then, the world’s richest man has become one of the most influential advisers in the White House, deepening concerns among competitors and their investors that SpaceX may become even more dominant in the sector.