SpaceX is in the business of sending items to space, and Thursday, it launched its first paid mission.
He estimates that each fairing costs approximately $6 million, which equates to about 10 percent of the cost of a Falcon 9 launch.
Arabsat 6A launch from Cape Canaveral, Florida.
SpaceX has tried to recover payload fairings during previous launches but to no avail.
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SpaceX's payload fairing retrieval boat, dubbed Mr. Steven.
SpaceX and Boeing are vying to send humans to space from U.S. soil for the first time in almost a decade under Nasa's Commercial Crew Programme.
The launch, which took place on Thursday evening, was a huge deal for the company, and it even surpassed the success of the first Falcon Heavy launch from early in 2018.
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Speaking about the launch from the Cape Canaveral air force base, Khaled bin Ahmed Balkheyour, President & CEO of Arabsat said: "We are thankful for the successful launch of the 6A satellite as it was challenging for us and SpaceX because it is the first largest and heaviest satellite lifted by SpaceX on the most powerful rocket in operation today".
More than a year later, SpaceX has now launched the 70-meter-high Falcon Heavy, created to carry more than 64 metric tonnes of cargo, with the Arabsat-6A on board.
In an incredible accomplishment, the Falcon Heavy's reused side boosters landed smoothly back down to Earth on two separate launchpads about 8 minutes in.
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SpaceX is now testing a system to recover the fairings of its Falcon 9 rockets. A drone ship is already in position in the Atlantic in order to catch the center core of the rocket, while the two outer cores will aim to land on SpaceX's concrete landing zones on the Florida coast. While many SpaceX fairings have been pulled from the water over the years and put back into service, the ultimate goal is to avoid having to refurbish the components to deal with corrosion caused by salt water - which is expensive and time-consuming.