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The extraterrestrial economy is booming: investors turn to outer space

Published

3 years ago

July 19, 2021

With billionaires going to space, the extraterrestrial economy is booming. Richard Branson flew to space last week, and Jeff Bezos plans to follow suit on July 20. Recent estimates suggest the space industry is worth around $415 billion. Experts say this figure could grow to as much as 1.5 trillion by 20-30.

This comes as investment manager Cathie Wood launches the ARK Space Exploration ETF. The EFT is designed to track space innovation and related companies. This fund has already attracted more than $600 million in assets, making it a top debut for the year.

Similarly, satellite company Astra Space Inc. has just started trading on the NASDAQ. Other firms like Rocket Lab USA and Redwire have also announced future plans to go public. Investors are hopeful that new and emerging technologies will continue to advance the sector and pay off in dividends.

Richard Branson space flight: should billionaires be going to space? | Ticker VIEWS

Related Topics:JEFF BEZOS Richard Branson space

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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