Saudi Arabia invests $1 billion in Richard Branson’s space plane and rocket

Saudi Press Agency

On Thursday, the government of Saudi Arabia made a big splash in the aerospace community by announcing its intentions to invest $1 billion in Virgin Galactic and that company's efforts to develop a commercial tourism space plane and a small-satellite launcher. In addition, the Saudi Crown Prince Mohammed bin Salman Al-Saud also discussed creating a space-centric entertainment industry.

"The future of Saudi Arabia is one of innovation, as showcased at this week's Future Investment Initiative, and it's through partnerships with organizations like Virgin Group that we will make active contributions to those sectors and technologies that are driving progress on a global scale," the crown prince said in a statement.

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