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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

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Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers
SpaceX

SpaceX Sets New Date for Launch After Explosion

By
Jonathan Vanian
Jonathan Vanian
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By
Jonathan Vanian
Jonathan Vanian
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December 7, 2016, 2:02 PM ET
Photos, SpaceX: NASA via Getty Images; Blue Origin: Courtesy of Blue Orgin
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SpaceX is now aiming at early January for its first flight since one of its Falcon 9 rockets exploded on the launch pad in September.

The Elon Musk-led space flight company originally planned for a Dec. 16 launch, but it revised its schedule on Wednesday by pushing the expected date to 2017. Satellite specialist Iridium Communications is slated to place 10 of its satellites aboard the Falcon 9 for that launch.

A SpaceX Falcon 9 rocket exploded during a test firing in Florida in September, after which the company postponed all of its planned launches. SpaceX (SPACEX) has said that it is investigating the reason for the explosion, but it has yet to release a detailed account.

Update on our anomaly and return to flight path forward https://t.co/15yMaiFMOx

— SpaceX (@SpaceX) December 7, 2016

 

Musk, who is also the CEO of electric car company Tesla Motors (TSLA), told CNBC in November that the explosion was unlike anything ever “encountered before in the history of rocketry.”

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“I think we’ve gotten to the bottom of the problem,” Musk said at the time without explaining in detail.

“We are finalizing the investigation into our September 1 anomaly and are working to complete the final steps necessary to safely and reliably return to flight, now in early January with the launch of Iridium-1,” SpaceX said in a statement on Wednesday. “This allows for additional time to close-out vehicle preparations and complete extended testing to help ensure the highest possible level of mission assurance prior to launch.”

September’s SpaceX explosion also destroyed one of the $200 million satellites owned by Israel-based satellite company Space Communication.

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Space Communication said it would either seek $50 million from SpaceX as compensation for the accident or a free ride aboard another launch.

 

About the Author
By Jonathan Vanian
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Jonathan Vanian is a former Fortune reporter. He covered business technology, cybersecurity, artificial intelligence, data privacy, and other topics.

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