SpaceX CEO Makes Bold Promise On Launch Costs

The bold CEO of SpaceX aims to build and launch the world's most powerful rocket, and he is staking his reputation on his ability to send up the company's Falcon 9 and planned Falcon Heavy vehicles for a fraction of the cost charged by competitors.

Elon Musk, who made his millions founding Internet start-ups during the dot-com boom at the turn of the century, says the average cost of the Falcon 9 will remain at about $50 million per flight. The company will offer the Falcon Heavy -- which will be able to carry twice the amount of cargo as NASA's space shuttle -- for $100 million per launch. The only rise in costs, he told reporters Tuesday, would match inflation.

"You are hearing it from me directly -- this is being recorded -- that we will stick to those prices and not go above them except for, you know, inflation and stuff like that," Musk said at a news conference at the National Press Club in Washington, D.C.

At those prices, customers will be able to haul cargo into orbit for a record low price: $1,000 per pound. That's an order of magnitude less than today's high cost to launch: $10,000 per pound into orbit.

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