Branson Vs. Musk Vs. Bezos: Billionaire Space Race Heats Up

June 25, 2021 reputationpoll

Branson Vs. Musk Vs. Bezos: Billionaire Space Race Heats Up As Virgin Galactic Is Cleared For Passengers.

Virgin Galactic, the space tourism venture of billionaire Sir Richard Branson, surged more than 20% Friday after the company said it received the license it needs to fly passengers into space, upping pressure on its rivals in the emerging space tourism sector and setting the stage for a standoff this summer as billionaires Jeff Bezos, Branson and Elon Musk all push to edge ahead.

Virgin Galactic’s stock was up around 20% on Friday morning following its announcement the Federal Aviation Administration had granted it a license to carry customers to space.

With it, Branson, who launched Galactic in 2004, can finally make good on his promises that commercial spaceflight is just around the corner, which he has been making for the better part of two decades.

Galactic is planning its first fully crewed flight this summer, which could see Branson beat Amazon’s Jeff Bezos into space.

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Bezos, through his own aerospace company Blue Origin, is scheduled to be part of a crewed flight to the edge of space on July 20.

Branson’s efforts to open up commercial space travel have been turbulent, facing repeated setbacks as he repeatedly proclaimed it was just round the corner and comes on the heels of a successful test flight in May. A sizable fraction of his fortune is now derived from his stake in Galactic. The long-awaited green light comes at a crucial time in the dash to open up space to civilians, as Galactic competes with ventures from Musk’s SpaceX and Bezos, both also at advanced stages.

Galactic has not announced the date for its next flight, though it is believed this will be before Bezos’ in July. Bezos, in turn, jumped in front of Musk’s SpaceX, which plans an all-civilian mission at the end of 2021 (SpaceX has already launched several NASA-trained crews to the International Space Station). All will mark milestones in the race to open up space

600. That’s how many people have reportedly already made reservations with Virgin Galactic, which will take off from a site in New Mexico. Tickets cost $250,000 each.

Bezos Reclaims “World’s Richest” Title

June 13, 2021 reputationpoll

Jeff Bezos Reclaims The Richest Person Title After 2-Weeks At Being The Second Richest.

Two weeks after losing the title of the richest person in the world to LVMH chief Bernard Arnault, Amazon’s Jeff Bezos reclaimed the No. 1 spot on Thursday according to Forbes.

Amazon shares closed more than 2% higher, boosting Bezos’ net worth by $3.5 billion, while shares in Arnault’s luxury conglomerate LVMH slumped by nearly 1%, slashing $1.4 billion from his fortune.

Bezos’ net worth now stands at $193.5 billion, Forbes estimates, compared to Arnault’s $192.9 billion. It’s been a rollercoaster few weeks for the two titans, who have been trading the top spot back and forth.

On May 24 and 25, Arnault briefly passed Bezos before the markets opened in New York and Amazon shares rose, giving the Amazon founder the upper hand.

Then, on May 27, Arnault took the lead and held it for two weeks. Earlier this year, Bezos was locked in a two-week fight for the top spot with a different mogul: Tesla and SpaceX boss Elon Musk.

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Most of Bezos’ net worth is tied up in his Amazon shares he owns about 10% of the e-commerce giant in addition to an estimated $19 billion worth of cash and investments, $500 million in real estate, plus aerospace company Blue Origin and the Washington Post.

On Monday, Bezos announced that he would be on board Blue Origin’s first crewed space flight on July 20, accompanied by his younger brother Mark and a third seat reserved for the winner of an online auction scheduled to end on June 22.

As the richest person on Earth and soon one of the few billionaires to ever be in space Bezos has seen enormous gains in his personal wealth over the past two years.

Since the depths of the Covid induced market crash in March 2020, Bezos has gotten $80.5 billion richer. Arnault has gained a staggering $116.9 billion over that time period, while Musk has added $128.7 billion to his fortune.

Bezos briefly reached a record net worth of $200 billion twice in the past year, first in August 2020 and then again in late April.

Tesla ordered to keep main US plant closed

May 9, 2020

Electric car firm Tesla has been ordered to keep its main plant in the US closed, as California grapples with a coronavirus outbreak.

Chief executive Elon Musk had told staff “limited” production would resume on Friday at the Fremont factory, near San Francisco, according to CNBC.

But Alameda County says this could lead to a spike in coronavirus cases.

Nearly 9,500 cases have been reported in the San Francisco Bay Area, along with 342 virus-related deaths.

Since 23 March, all but “basic operations” have been suspended at the plant because of “shelter in place” orders enacted in the county. The factory employs more than 10,000 workers, and makes about 415,000 vehicles every year.

California’s government has eased some restrictions around the state this week, allowing businesses to resume operations. But several Bay Area counties, including Alameda, have issued their own criteria according to which businesses may reopen, which take precedence.

“Tesla has been informed that they do not meet those criteria and must not reopen,” Alameda County said in a statement. “We welcome Tesla’s proactive work on a reopening plan, so that once they fit the criteria to reopen, they can do so in a way that protects their employees and the community at large.”
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Tesla did not immediately respond to the BBC’s request for comment.

Mr Musk has drawn controversy for his opposition to coronavirus restrictions, and his promotion of unproven treatments for the virus.

In a series of tweets, the tech billionaire has said “the coronavirus panic is dumb” and “FREE AMERICA NOW”.

It comes as Tesla has suspended operations at its plant in the Chinese city of Shanghai, according to Bloomberg. It had previously closed the factory as a temporary measure when the virus was at its peak in China.

The company reported a net profit in the first three months of this year, and its stock has risen to nearly $820 (£669; €756). But analysts expect the coronavirus pandemic will adversely affect its earnings in 2020.