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How distant space travel will enrich billionaire Richard Branson and his company Virgin Galactic



Virgin Galactic says it will sell its $ 500m stakes after successfully completing its long-distance flight on Sunday.


The company says it plans to use the funds raised to develop its infrastructure.


This Sunday, Sir Richard Branson, a billionaire and founder of the Virgin Galactic company, has successfully reached the fossil record outside the planet using one of the 17-year-old aircraft.


He has called the voyage "a journey of experience" after returning to planet Earth in more than an hour.

The trip has made the businessman a first-time explorer in space travel using his company's transport by beating fellow billionaires like Jeff Bezos of Amazon and Elon Musk of SpaceX, who are also good at technology


Shares in Virgin Galactic rose 8% before the stock market opened in the United States on Monday. But it dropped sharply by 17% by the evening of the day, after it was announced that its shares were for sale.


Sir Richard owns about a quarter of all the company's shares.


'Let's see for yourself'

Sir Richard was accompanied by two pilots on the plane and three employees of the company - in an attempt to travel to outer space to start the business of sending tourists to the airspace.


"I had a little booklet and wrote about 30 to 40 things that would help anyone who went there to enjoy it more," he said. "The only way to get to know these little things is to travel and go there and see for yourself."


About 600 people have already paid for tickets worth $ 250,000 - among those who paid for the tickets were billionaire and owner of Space X and Tesla companies, Elon Musk, according to a report in the Wall Street Journal.


For the first time, Sir Richard announced his intention to build a spacecraft in 2004, believing that he could start an offshore tourism business by 2007.


Despite technical challenges and the 2014 crash, the company's shares doubled this year, at a time when the business he wants to set up for aviation is about to start.


Ken Herbert, an aviation expert, said the company could soon start selling tickets to the rich soon.


"We see Branson's success as a major market revolution for Virgin Galactic that is difficult for society to ignore," he said.

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