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LOS ANGELES — An Internet entrepreneur’s latest effort to make space launch more affordable paid off Sunday when his commercial rocket, carrying a dummy payload, was lofted into orbit from the South Pacific.

It was the fourth attempt by Space Exploration Technologies, or SpaceX, to launch its two-stage Falcon 1 rocket into orbit.

“Fourth time’s a charm,” said Elon Musk, who started SpaceX after making his fortune as the co-founder of PayPal Inc., the electronic payment system.

The rocket carried a 364- pound dummy payload designed and built by SpaceX for the launch.

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