As billionaire Richard Branson welcomes humanity to “the dawn of new space age”, we are left to wonder if now is the time to leave earth
In the early hours of today, Richard Branson joined fellow billionaires Elon Musk and Jeff Bezos as a competitor in the new age space race. However, should we be celebrating the possibility of a future where the extremely wealthy can afford space getaways?
The last few years have been catastrophic for planet earth. The escalating climate crisis has seen wildfires ravage through Australia last year, and more recently in California. Global tensions continue to rise with escalating conflict throughout the Middle East and a widening political divide. The Covid-19 pandemic has become not only a health crisis, but also an economic and political one.
With this in mind, billionaires going to space as the world burns feels slightly out-of-touch. In many ways, the entire concept feels like it could be pulled from the plot of some dystopian blockbuster. As the world burns, the uber-rich get to escape in their personal space jets. However, these same men (and they are all men), insist that their escapades beyond earth are inherently philanthropic.
Last year, the UN’s David Beasley implored billionaires to “step up” and help fund the fight against hunger worldwide. Beasley also took to Twitter in June to specifically encourage action from Bezos, Branson and Musk.
And yet, it seems this is the exact moment the space race between Silicon Valley’s elite is heating up. Aside from Branson, Elon Musk and Jeff Bezos also have space travel firmly in their sights with SpaceX and Blue Origin.
Will space travel be accessible to all, or only the rich?
Traveling to space must be “more accessible to all,” Virgin Galactic founder Richard Branson said during a news conference following his successful space flight. However, the sentiment feels rather hollow when you look at the hefty cost of space travel.
Although the $250,000 price tag to go to space with Virgin Galactic may seem excessive, it’s a bargain compared to what other companies offer. A ticket aboard a SpaceX mission costs about $55 million, and a seat on a spaceflight next to Jeff Bezos costs about $28 million.
Even Virgin Galactic’s offerings for relatively cheap space travel cost about the same as the US’ medium house price. Thus far, the company says at least 600 people have made reservations for future Virgin Galactic flights, at a ticket price estimated to cost as much as $250,000.
Space Connector Christina Korp has over 12 years managing former NASA astronauts and says although Branson, Bezos and musk are fuelling the cash and ‘billionaire space race’ angle… it’s just a natural progression to take space to a commercial market.
“I heard their intention is to hopefully begin to do flights once a week or possible once a day (to space)”
Space Connector Christina Korp
Korp says NASA astronauts want to share their perspective of earth and believe more people should be able to also experience space.
“We’re here to make space more accessible to all,” says Richard Branson.
For his part, Branson has committed to reducing ticket prices. Although, he hasn’t specified when we can expect cheaper flights, or how cheap the tickets could become. Of course, many analysts say that space tourism flights will naturally become less expensive as technology continues to develop.
Space travel isn’t the only new technology that has a price tag too large for the average person. During the early days of commercial aircraft, a plane ticket was far out of most people’s reach. Now, over a billion people travel internationally every year (albeit this statistic was prior to Covid-19 restrictions).
“The price point is high, but that’s just like any other early adopter,” said Ann Kim, managing director of frontier tech at Silicon Valley Bank.
Are billionaires using their money to go to space, or is going to space making them money?
At the core of each of these discussions is a central component: money, and lots of it. Experts anticipate that space tourism will represent an annual market of $20 billion, as a competitor to long-distance commercial flights.
The billions of dollars pouring into private space companies represents “a high level” of capital formation, UBS said. Even though space tourism is still in its early days, UBS said they believe the sub-sector “will become mainstream as the technology becomes proven and cost falls”.
With so much money at stake, it leaves you to wonder whether the mission of these billionaires truly is to provide for humanity. And if so, why would they not direct their philanthropic endeavours closer to earth?
This isn’t to say that improving space travel technology won’t be beneficial to humanity. However, you’d be kidding yourself if you saw space technology as anything other than a capitalistic investment.
Let the record say: I’m not opposed to space travel, or investing in the development of space technology. However, perhaps billionaires should be using their astronomical wealth to contribute to social causes closer to earth.
Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.
In Short:
– SoftBank may acquire DigitalBridge to enhance its AI infrastructure amid rising global data centre demand.
– The deal could control $108 billion in digital assets, with financial details yet to be disclosed.
SoftBank Group is reportedly in advanced talks to acquire DigitalBridge Group, a move that would dramatically expand the Japanese conglomerate’s control over critical AI infrastructure as global demand for data centres accelerates. The potential deal, which could be announced within days, would give SoftBank exposure to roughly $108 billion in digital infrastructure assets, including data centres, cell towers and fibre networks. While financial terms remain undisclosed, the talks are said to be at an advanced stage.
The acquisition fits squarely into founder Masayoshi Son’s renewed bet on artificial intelligence and computing capacity. DigitalBridge manages investments in major data centre operators such as Vantage Data Centers, Switch, DataBank and AtlasEdge, placing SoftBank at the centre of the infrastructure powering next-generation AI. The company is also a key participant in Stargate, a $500 billion private-sector AI initiative announced earlier this year, and recently agreed to buy ABB’s robotics division as part of its broader push into physical AI.
Intensifying competition
Markets have reacted strongly to the prospect of the deal, with DigitalBridge shares surging as much as 47% after the initial reports emerged. The rally highlights intensifying competition for data centre assets, as AI drives unprecedented demand for computing power. McKinsey estimates AI-related infrastructure spending could reach $6.7 trillion by 2030, while Goldman Sachs forecasts global data centre power consumption will rise 175% from 2023 levels by the end of the decade. If completed, the acquisition would mark SoftBank’s return to direct ownership of a major digital infrastructure platform at a pivotal moment in the AI race.
In Short:
– Italy’s antitrust authority requires Meta to allow access to rival AI chatbots on WhatsApp during an investigation.
– Meta plans to appeal the ruling, claiming it disrupts their system and questioning WhatsApp’s role as an AI service platform.
Italy’s antitrust authority has ordered Meta to allow competing AI chatbots access to WhatsApp, suspending rules that blocked rivals. The decision comes amid concerns that Meta’s policies could limit competition and harm consumers in the rapidly growing AI services market. Meta plans to appeal, calling the ruling “fundamentally flawed” and arguing that WhatsApp wasn’t designed to support third-party AI chatbots.
The Italian Competition Authority began investigating Meta after its March 2025 launch of Meta AI on WhatsApp, later expanding the probe to cover updated business terms that excluded rival AI providers, such as ChatGPT, Microsoft Copilot, and Perplexity. The European Commission has launched a parallel investigation, highlighting growing regulatory scrutiny on tech giants in Europe.
Europe’s stricter stance on Big Tech has sparked pushback from the industry and political figures in the U.S., including former President Donald Trump. Meta maintains that its Business API restrictions still allow AI for customer support and order tracking, but says general-purpose chatbot distribution falls outside its intended use.
In Short:
– Chinese researchers set a world record, accelerating a test vehicle to 700 km/h in two seconds.
– This milestone positions China as a leader in ultra-high-speed maglev technology and future transport developments.
China has set a new world record in magnetic levitation technology after accelerating a ton-class superconducting maglev test vehicle to 700 kilometres per hour in just two seconds. The achievement, reported by state broadcaster CCTV, marks the fastest acceleration ever recorded for an electric maglev system and cements China’s position at the forefront of ultra-high-speed transport innovation.
The test was conducted by researchers at the National University of Defense Technology on a 400-metre track, where footage showed the vehicle flashing across the rail-like structure in a blur, leaving a misty trail behind it. The breakthrough follows more than a decade of research tackling complex challenges such as ultra-high-speed electromagnetic propulsion, electric suspension guidance systems, and high-field superconducting magnets, all of which are critical to stable travel at extreme speeds.
Hyperloop technology
Beyond headline-grabbing velocity, the milestone opens the door to future transport systems, including vacuum-tube maglev networks, commonly referred to as hyperloop technology. Scientists say the same advancements could also be applied to aerospace launch assistance, electromagnetic launch systems, and advanced experimental testing. According to Professor Li Jie from the National University of Defense Technology, the successful trial will significantly accelerate China’s research into frontier technologies, with future work focusing on pipeline-based high-speed transport and aerospace equipment testing.
While China now leads in superconducting maglev acceleration, global competition remains fierce. Japan still holds the record for the fastest manned train, with its L0 Series maglev reaching 603 kilometres per hour during testing in 2015. China, however, operates the world’s only commercial maglev service — the Shanghai Maglev — which currently runs at 300 kilometres per hour after its top speed was reduced from 431 kilometres per hour in 2021.
The December test builds on earlier progress made this year, including a 1.1-ton test sled that reached 650 kilometres per hour in seven seconds over a 600-metre track in June 2025. Together, these developments signal rapid momentum in China’s push toward next-generation transport systems that could redefine how people and payloads move across the planet.