October 26, 2017

Saudi Arabia Announces Intended $1bn Investment in Virgin Space Companies

Today at Future Investment Initiative, a major investment conference in Riyadh, Crown Prince HRH Mohammad bin Salman Al-Saud and Sir Richard Branson announced an exciting partnership, whereby Saudi Arabia, via the Public Investment Fund,  intends to take a significant stake in Virgin Galactic, Virgin Orbit and The Spaceship Company with an investment of approximately $1bn. Under the planned partnership, Virgin will retain the majority interest in the three space companies.

There is still some work to do before the deal is finally confirmed, including securing US regulatory clearances, but as Richard observed, the investment is a sign of confidence from the international investment community that our vision, our approach and our technology are on the right path to commercialising space access.

Read the press release here and Richard’s blog here.HRH-Crown-Prince