Want to invest into space? Richard Branson's Virgin Galactic is going public
Astronaut company Virgin Galactic will become first to be publicly traded.
- Richard Branson's Virgin Galactic will go public later this year.
- People will be able to buy shares when Virgin Galactic merges with a shell company.
- The company aims to raise enough capital through investment to sustain itself until profitability.
Many may dream of space but have no viable paths towards it. Becoming a government agency astronaut is for the select few or you need to shell out hundreds of thousands for nascent space tourism. But now comes an opportunity for you to reach past our stratosphere at least vicariously by purchasing stock in billionaire Richard Branson's space company Virgin Galactic.
While this news does not necessarily mean you are going to the stars in the near future, it does bode well for the space industry as a whole. Later in 2019, Virgin Galactic will become the first publicly listed company that sends human to space, beating out Musk's SpaceX and Bezos's Blue Origin.
As reported by the Wall Street Journal, the deal to make this happen involves having a specially-designed acquisition company Social Capital Hedosophia Holdings Corp. investing about $800 million in Virgin Galactic to get a 49% ownership stake. Through the publicly-traded shell Social Capital Hedosophia, Branson's company will be open to the people.
Why do this now? Virgin Galactic thinks this will net it enough money to keep the business going until its spaceships will start bringing in profits.
Branson expressed his rationale for the decision to be making sure "we can enable as many people in the world as possible to become astronauts."
So far, Virgin Galactic sold about $80 million worth of seats on future spaceflights to 600 people. Overall, it raised over $1 billion since 2004 (but mostly from Branson himself).
In February, Virgin Galactic sent 3 people past the edge of our stratosphere in its SpaceShipTwo vessel. The test flight reached 56 miles above the Earth.
Richard Branson Imagines the Future
What makes a life worth living as you grow older?
- Dr. Ezekiel Emanuel revisits his essay on wanting to die at 75 years old.
- The doctor believes that an old life filled with disability and lessened activity isn't worth living.
- Activists believe his argument stinks of ageism, while advances in biohacking could render his point moot.
The Amazon Rainforest is often called "The Planet's Lungs."
- For weeks, fires have been burning in the Amazon rainforest in Brazil, likely started by farmers and ranchers.
- Brazil's president, Jair Bolsonaro, has blamed NGOs for starting the flames, offering no evidence to support the claim.
- There are small steps you can take to help curb deforestation in the Amazon rainforest, which produces about 20 percent of the world's oxygen.
The world's largest retailer has evolved "like a flea market," according to a new report from The Wall Street Journal.
- The report found more than 4,000 listings for products deemed to be unsafe, banned or mislabelled.
- These products included mislabelled pain relievers, dangerous children's toys, and helmets that had failed federal safety tests.
- There are some steps you can take to avoid buying unsafe or counterfeit products from Amazon.