• 92 days Could Crypto Overtake Traditional Investment?
  • 97 days Americans Still Quitting Jobs At Record Pace
  • 99 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 102 days Is The Dollar Too Strong?
  • 102 days Big Tech Disappoints Investors on Earnings Calls
  • 103 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 105 days China Is Quietly Trying To Distance Itself From Russia
  • 105 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 109 days Crypto Investors Won Big In 2021
  • 109 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 110 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 112 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 113 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 116 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 117 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 117 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 119 days Are NFTs About To Take Over Gaming?
  • 120 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 123 days What’s Causing Inflation In The United States?
  • 124 days Intel Joins Russian Exodus as Chip Shortage Digs In
Western Companies Are Being Shamed Into Leaving Russia

Western Companies Are Being Shamed Into Leaving Russia

“Companies that fail to withdraw…

Intel Joins Russian Exodus as Chip Shortage Digs In

Intel Joins Russian Exodus as Chip Shortage Digs In

"Intel continues to join the…

  1. Home
  2. News
  3. Breaking News

Bezos Is Heading To Space This Sunday

Bezos Is Heading To Space This Sunday

The ongoing space race has entered another dimension as Amazon CEO Jeff Bezos announced that he would fly to space on July 20th aboard the New Shepard rocket owned by his Blue Origin. 

Bezos will fly alongside his brother and two unnamed crew members.

Blue Origin auctioned off one seat on the spacecraft with bidding starting at $4.8 million, but it didn’t end there--not by a long shot. A mystery bidder won the auction with a $28-million bid to join them on the ride estimated to last about 11 minutes. Blue Origin said that the fourth rider would be announced later.

It’s an exorbitant 11 minutes. 

New Shepard, designed to carry up to six people without a pilot, has already flown more than a dozen successful test flights without passengers onboard.

Blue Origin is up against fellow billionaires Elon Musk (SpaceX) and Richard Branson (Virgin Galactic) for the title of the first company to send paying passengers into space. All three are already in the race for lucrative military contracts, too.

In September, Musk unveiled the Starship spacecraft designed to carry 100 passengers and cargo to space. SpaceX announced test flights would start soon, with plans to land on the moon before 2022. 

Last November, SpaceX launched the first manned mission to the International Space Station, sending four astronauts into orbit atop a SpaceX Falcon 9 rocket for a 27-hour journey.

SpaceX has signed contracts with NASA valued at $3 billion to develop, test and fly an astronaut taxi service. NASA says it is now entering a new era in which routine voyages to low-Earth orbit are being conducted by commercial providers.

Branson’s Virgin Galactic launched its new “One Small Step” qualification process, allowing those who are serious about flying to space to register now and buy a slot at the front of the line for firm seat reservations.

Virgin Galactic said it would begin taking $1,000 refundable deposits as it prepares to release the next batch of tickets to the general public. The company said prices and timing for its next flight were not available yet, even though tickets for the inaugural flights had earlier been priced at $250,000.

The company reported that 7,957 people have so far signed up to register interest, including singer Justin Beiber, actor Leonardo di Caprio and many other celebrities and wealthy people.

As for Bezos's auction, nearly 7,600 people from pretty much every country in the world registered to bid on the maiden flight.

A pandemic, it would seem, has done nothing to dampen interest in space among the wealthy. 

In the last year, as the world was battling with a pandemic, more than seven hundred new billionaires emerged from the wreckage. 

Bezos alone has seen his net worth soar by $63.6 billion. Musk has added a whopping $140 billion to his net worth. 

At the same time, global GDP shrank by 3.3% last year, and the global economy is set to lose over $22 trillion between 2020 and 2025, according to the International Monetary Fund (IMF).

Back to homepage

Leave a comment

Leave a comment