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Raytheon Technologies Corp (RTX) Q2 2021 Earnings Call Transcript
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An out-of-this-world experience is the new, billionaire must-have. This week Jeff Bezos, the Amazon chief, took a trip aboard New Shepard, a rocket built by his Blue Origin business. Sir Richard Branson was a passenger on a Virgin Galactic flight, while Elon Musk aims to orbit earth in one of his SpaceX capsules.
These missions are regarded by many as expensive joyriding.
But, as wise investors realise, billionaires tend to have an ulterior motive even when fulfilling a childhood dream.
Bezos, Branson and Musk are carrying out personal research into the 21st century space race – whose participants could be making $1 trillion in sales by 2040, or so Morgan Stanley forecasts.