The nonbinding memorandum of understanding involving $1 billion in investment from Saudi Arabia is Richard Branson’s latest success in obtaining financial support from governments for his Virgin Group’s space companies. The table below shows funding invested directly into the group’s space ventures and indirectly for infrastructure. VIRGIN GROUP SPACE COMPANIES — DIRECT & INDIRECT GOVERNMENT INVESTMENT YEAR GOVERNMENT AMOUNT (MILLIONS) PURPOSE 2006 New Mexico ~$225 Custom built spaceport named Spaceport […]
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“Public Investment Fund”
LauncherOne ignites after being released from Cosmic Girl 747. (Credit: Virgin Galactic)
RIYADH, Saudi Arabia, October 26, 2017 — The Public Investment Fund (PIF) of Saudi Arabia and Virgin Group (Virgin), have signed a non-binding Memorandum of Understanding (MoU) for a partnership under which PIF intends to invest approximately $1 billion into Virgin Galactic, The Spaceship Company and Virgin Orbit, with an option for $480 million of future additional investment in space services.
