NASA humiliation: SpaceX’s huge rocket take off will cost just 1 percent of rivals’ launch

The company is even working on a system that could transport up to 1,000 passengers from one city to another on the same rocket within the next 10 years.

However despite these large ambitions and the major costs saved through the development of rocket reusability, the launch of SpaceX’s much smaller rocket Falcon 9 still cost $62 million (£48million) – well above the his current claims.

The figure has led many to question the credibility of the claim.

He does “zero market research whatsoever” at the event, leading some to wonder if he made up the figure on the spot.

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