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.
These stocks in the portfolio could help YOU win the space race
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As Richard Branson And Jeff Bezos Ready For Liftoff, SPACs Flock To Space Startups
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Space company Satellogic to go public via Cantor Fitzgerald SPAC at $1.1 billion valuation CNBC 7 hrs ago Michael Sheetz
Satellite imagery specialist Satellogic is preparing to go public, announcing plans to merge with a SPAC sponsored by Cantor Fitzgerald. We re going to grow the full [satellite] constellation by 2025 to 300 satellites, to get daily remaps of the entire planet, Satellogic CEO Emiliano Kargieman told CNBC.
SoftBank and Cantor Fitzgerald led an $100 million PIPE investment round alongside the merger.
The deal gives the space company a $1.1 billion equity valuation and is expected to close early in the fourth quarter. © Provided by CNBC A satellite image of the stuck container ship Ever Given in Egypt s Suez Canal, taken on March 25, 2021.