Virgin Galactic, the billionaire's company Richard Branson, could be transformed into first commercial space company listed on Wall Street, his owner is working on it, explained the media outlet elpais.com.
By MiamiDiario Newsroom
To get into Wall Street the tycoon Richard Branson you will be able to obtain the necessary money to better compete with the companies SpaceX de Elon Musk y Blue Origin whose owner is Jeff Bezos.
To achieve the objective, quote in Wall Street, Branson plans to integrate Virgin Galactic with Social Capital Hedosophia, a venture capital fund that participates in the New York Stock Exchange.
It was known that the negotiation will be that the new investors will have the 49% of the capital de Virgin Galactic in exchange of 800 million. Also Chamath Palihapitiya, the fund manager Social Capital Hedosophia , assured that he will invest in the company -in a personal way- 100 million dollars more at the end of the operation, which is scheduled for the end of 2019.
Branson said of the deal: "It's a very exciting time and investors are paying close attention to this emerging industry."
When asked about the transformations they are carrying out Elon Musk y Jeff Bezos to compete with Boeing, the English businessman admitted that he knew them and asserted: «The market is huge and the people who want to go to space do not stop growing».
Meanwhile Palihapitive ensures that the risk you are assuming is worth the potential growth that the company may have. He added that the technology it develops Virgin Galaxy it can be used in future negotiations in the transport sector as hypersonic aircraft.
Branson is sure that the space industry can develop faster than the aviation sector because prices can go down.
As for the merger Virgin Galaxy with Social Capital Hedosophia He explained that the management team of his company will stay but the logo will be different.
Branson's dream is to be - very soon - the first space tourist in one of his aircraft. In fact, one of his objectives to achieve that goal is about to be completed, which is to finish the construction of a space port in the city of New Mexico.
Billionaires in the space race
Billionaires from different countries compete to be the first private company in the race for space, the ones that stand out the most are Elon Musk, Jeff Bezos and Richard Branson.
Since I believe Virgin Galactic in the 2004 year, Branson It has received about 1.000 million dollars. While the company Jeff BezosBlue Origin aims to be the first private company en launch a person into space this year. For its part, Elton Musk wait with SpaceX taking tourists to space, in addition to continuing to place satellites and supplying supplies to the International Space Station.
We will have to wait for the result of the merger of Virgin Galactic with Social Capital Hedosophia, to find out the result of your goal of reaching the New York Stock Exchange.