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:
– SpaceX’s Starlink satellites are reentering daily, raising concerns over potential atmospheric damage and increased debris.
– Aluminium oxide particles from these satellites may harm the ozone layer and affect atmospheric dynamics by 2040.
SpaceX’s Starlink satellites are reentering the atmosphere daily, igniting concern among scientists about possible atmospheric damage. Up to four satellites are now falling back each day, and this number may increase as the constellation expands.
The rapid growth from earlier figures reflects the sheer scale of the satellite network, which currently includes over 6,000 active satellites.
Satellite reentry could release aluminum oxide particles, posing risks to the ozone layer. Studies indicate that atmospheric aluminum oxide levels have surged significantly in recent years, with projections suggesting further increases if current deorbiting continues.
These particles persist in the atmosphere, raising concerns among researchers about their impacts.
Environmental Impact
Concerns extend to the presence of metals from the satellites. Research indicates that spacecraft metals now constitute a substantial portion of stratospheric sulfuric acid particles. By 2040, the volume of satellite debris may equal natural meteor dust, which could affect atmospheric dynamics.
Regulatory challenges are also in focus as claims of complete satellite disintegration upon reentry are questioned.
There have been instances of debris landing on Earth, which contradicts SpaceX’s assurances. A Federal Aviation Administration report predicted that the risk from reentering debris could significantly increase in the coming years, highlighting a need for improved monitoring and regulatory frameworks in the expanding space sector.
In Short:
– SpaceX will launch its advanced Starship test flight on October 13 from Starbase in Texas.
– The flight marks the first reuse of a Super Heavy booster and includes significant heat shield upgrades.
SpaceX plans to launch its advanced Starship test flight on Monday, October 13, at 6:15 p.m. CT from its Starbase facility in South Texas.
This 11th integrated flight marks the final mission for the Block 2 configuration before transitioning to the more powerful Block 3 variant.
Flight 11 is historical as it will reuse a Super Heavy booster for the first time. Booster 15 will embark on its second flight, having previously completed Flight 8 in March. The booster is equipped with 24 flight-proven Raptor engines to showcase SpaceX’s rapid reusability focus.
Instead of a tower catch, Booster 15 will perform landing tests over the Gulf of Mexico. These data-gathering exercises, which evaluate various descent angles, are vital for future missions and enhance fuel efficiency. They also inform the design of Block 3 boosters, which will be reinforced for steeper descents.
Heat Shield
Significant heat shield upgrades have been made for Flight 11 following issues exposed during the last flight’s reentry. A new “crunch wrap” technique ensures tile security and edge protection. Executive Bill Gerstenmaier detailed that tiles will be mechanically held by a robot, enhancing reliability.
The heat shield is crucial for achieving full rocket reusability, which is essential for future missions to Mars.
SpaceX targets its first uncrewed Mars missions as early as 2026, contingent upon successful technological developments.
SpaceX conducts this flight under a $2.89 billion NASA contract for the Artemis program’s Human Landing System. NASA aims to utilize Starship for lunar missions, tentatively planned for 2027. Live coverage of the mission will commence 30 minutes before liftoff on SpaceX’s platforms.
In Short:
– Global space investment reached $3.5 billion in Q3 2025, nearly twice last year’s figure.
– Increased government spending and diverse startups are driving growth in the space sector.
Global space investment reached an unprecedented $3.5 billion in the third quarter of 2025, nearly double from $1.79 billion during the same period last year, as per a report by Seraphim Space.
The dramatic increase highlights a more diverse funding landscape where investments are distributed among a wider array of startups.”Historically, most of the capital in the sector was concentrated in just a couple of players, SpaceX and OneWeb,” stated Lucas Bishop, an investment associate at Seraphim Space.
“Now, we see a far more diverse set of investable companies, indicating space has evolved into a broader market.”
The substantial growth in space investment is largely driven by heightened government spending to support domestic space initiatives in the United States, China, and Europe.
Defence expenditure has become the leading investment catalyst, with the U.S. Space Force projected to receive $40 billion for fiscal year 2026.
Major Funding
China’s Galactic Energy secured the largest funding round, attracting $336 million in September for its Pallas series of reusable launchers.
In the U.S., defence technology firms such as Hadrian, Apex, and Hermeus were at the forefront of major investments.
Public space enterprises have also witnessed significant growth, with Rocket Lab and Planet Labs more than doubling in value.
AST SpaceMobile’s stock surged 306% in 2025, boosted by partnerships with major telecom operators like Verizon and AT&T.
Momentum is expected to persist into 2026 as satellite networks expand, and government procurement increases, paving the way for dual-use technologies in civilian and defence sectors.