Google is reportedly interested in acquiring a large chunk of Elon Musk's Space X company, looking in the region of a $1 billion investment, according to The Information.

Like Us on Facebook

Nobody knows the true value of Space X, but reports say somewhere around $10 billion looks about right. If that is the case, Google is gunning for 10 percent of Space X in the latest investment.

Google is most interested in Space X's low-orbit satellite mission, giving most of the undeveloped world access to satellite internet for cheap prices.

It is part of a bigger move by companies like Google, Facebook and Virgin Galactic to make the internet accessible from everywhere in the world, while reducing the cost for developing nations.

Bringing this internet could be an extremely lucrative business, especially if tech companies are able to establish the satellite internet as normal, putting customers on a continuous subscription.

Space X will be able to supply rocket missions up to low-orbit and release the satellites. Space X previously had a partnership with ex-Google employee Greg Wyler, but Elon Musk claimed the two had "fundamental disagreement about the architecture [of the satellites]".

Elon Musk is investing in a lot of opportunities for Space X, including putting internet on Mars, creating colonies on Mars and potentially creating jobs on Mars in relation to space travel.

Space economy will become a real thing by 2020 according to most analysts, who claim colonization, tourism and mining will become the three major markets for businesses.

Musk claims that while space missions will become less expensive, space companies need to figure out how to make rockets completely reusable, before space can become a real economy. Space X recently tried to land a cargo part on a drone barge, but failed to land it upright.

TagsElon Musk, Space X, low-orbit satellite, global internet