Italy’s biggest bank will invest in SpaceX

Italy’s largest bank, Intesa Sanpaolo, announced today that is joining in SpaceX as a private investment partner.

No details of the investment deal were released, but it likely adds a significant amount to the almost $11 billion in investment capital SpaceX has already gotten from the private sector, most of which is being used to develop Starship, Superheavy, and Starlink.

Very clearly, the investment community sees value and large future profits from SpaceX and Elon Musk, and wants to support it. Contrast this with the attitude of the Biden administration and the left, which apparently prefers to squelch this progress for the sake of power.