Billionaires in Space

It’s long been an aspirational target for entrepreneurs. It literally goes beyond “blue sky,” in terms of location, to a place no business has gone before: Outer Space!

Longtime space enthusiast and entrepreneur Richard Branson became the first person to travel to space using a self-funded vehicle. While the trip was brief, with Branson releasing an aspirational message during the few minutes of weightlessness afforded, it served to allow him brief bragging rights. Jeff Bezos, the recently retired billionaire executive, is about to launch his space effort, scheduled to launch July 20, the fifty-second anniversary of the Apollo 11 moon landing.^1,2

While these flights are full of such symbolism and pomp, they also reflect space entrepreneurship transitioning from pie-in-the-sky to, well, actual people in the sky. Where once the only space corporations were those with government contracts, working with NASA, the field is now open to potential space tourism, and other private-sector pursuits. Branson seems focused on offering wealthy passengers a trip of a lifetime. Bezos is on the cusp of the same but also has other, larger space-bound aspirations, potentially working with civil, commercial, and defense clients.^1,2

This launch into the final frontier is certainly exciting. As for other down-to-earth matters I remain with feet planted firmly on the ground and monitoring your financial matters. Hailing frequencies are always open, if you have any questions.

Tim Golas, Spurstone Partner

^{1. CNN.com, July 12, 2021}

^{2. Fox Business, July 12, 2021}

^{The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.}