Virgin Galactic Plunge 15% After Plans to Sell Shares to Fund Building More Spaceships


Billionaire Richard Branson flew to the edge of space on 11 July aboard the Virgin Galactic aircraft, travelling to an altitude of 62 miles and experiencing several minutes of zero-gravity.

Virgin Galactic announced that it would raise up to £360million [some $500 million] in cash through selling shares, after company head Richard Branson, successfully traveled to the edge of space.

The raised money, according to the report, will be poured into the development of the company’s space fleet and infrastructure.

Earlier on Sunday, Branson conducted a test flight to space, reaching an altitude of 62 miles and experiencing zero-gravity at one point during the trip. In an emotional tweet after his taste of “space travel”, the billionaire said that “there are no words to describe the feeling”.

After the flight, Branson announced a contest to win two seats on the next Virgin Galactic space flight, saying that the travel is expected to take place “in early 2022”.

On 20 July, another billionaire, Amazon founder Jeff Bezos, is set to travel into space, aboard a Blue Origins orbital spacecraft.


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