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Richard Branson is heading into space, and with it the shares of Virgin Galactic

Which billionaire will be the first to enter space aboard his rocket? There have long been three names in the game – Elon Musk, Jeff Bezos and Richard Branson. Amazon founder Bezos was considered a favorite when he announced that he and his brother Mark would take part in a test flight on July 20. But Branson topped him a few days later, and he’s going into space this weekend. Branson himself refuses to race Bezos. “I know everyone portrays it as a race, but honestly, I don’t think any of us would see it that way,” Branson said on Good Morning America.

But the path of the British billionaire was not easy. He has been working on space mining for almost 20 years and has invested about $ 1 billion in it. So far, the biggest obstacle was the failed test flight in 2014, when one of the pilots died after the wreck of the Virgin Galactic rocket and the other was seriously injured. “The universe is cruel,” Branson said at the time. After the incident, the British billionaire suspended the pre-sale of tourist flights, which until then had sold around 600 for $ 200,000.

Booking for space trips should be renewed if the Unity 22 rocket successfully completes two test flights this summer. So far, Virgin Galactic has conducted 20 test flights, three of which have successfully reached space limits 80 kilometers above the Earth’s surface. Thanks to this, the American regulator for air transport also gave the green light to commercial flights, which could start next year.

Unlike Bezos and Musk, Richard Branson is lightweight. It is estimated that it ranks 589th on the richest people on Earth, with a fortune of around $ 5.7 billion. At Virgin Galactic, Branson currently holds about a quarter of the shares, even asking the British government for a $ 500 million contribution during the pandemic year. He was eventually forced to sell part of his stake worth $ 300 million.

But a bet on space tourism could soon pay off handsomely. After falling stock value from $ 59 to $ 18 apiece, which Virgin Galactic experienced this spring, it has been experiencing rocketing growth in recent days. Again, it reached a value between $ 50 and $ 60. The renewed growth was helped by the announcement of the licensing of space trips for tourists, as well as small investors from discussion platforms such as Reddit, who liked Virgin Galactic shares.

Who is Jeff Bezos?

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But Bezos, Branson and Musk will not be the first billionaires to go beyond the atmosphere with their money. American Denis Tito, who spent eight days on the International Space Station (ISS) at the turn of the millennium, will be proud of this championship forever. He paid about $ 20 million for Russia on his trip. “Those eight days were the best experience of my life,” Tito told CNN recently. The other seven lucky people had the same experience as Tito, but after 2009 space tourism was stopped.

“I really believe that the universe belongs to each of us. Virgin Galactic is the vanguard of a new commercial space industry that will open space to humanity, “said Branson recently, who plans to build spaceports around the world. This would lead to the expansion of the availability of space tourism beyond the very richest sections of society.

Branson will embark on its flight on Sunday, July 11 at 3 pm Central European Time. The test flight will be broadcast by Virgin Galactic on their site and social networks.


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