Saudi Arabia has announced it will invest $1 billion in Virgin Group’s space missions that has space tourism, rocket manufacturing and spacecrafts!

If the deal goes ahead without any regulatory objection, PIF will get a significant share in those companies. 

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Sir Richard Branson Never Seemed So Pleased.. he tweeted this at the Future Investment Initiative in RIyadh 

Pleased Saudi Arabia intends to invest $1B in our space companies @virgingalactic @virgin_orbit @TheSpaceshipCo https://t.co/hmb3m1sCT9 pic.twitter.com/UMzSUjTrrV

— Richard Branson (@richardbranson) October 26, 2017

Richard Branson: #Space Center, this will be in the in the new #Entertainment City in #Riyadh. #FII2017 @FIIKSA https://t.co/IbpdBzuexi pic.twitter.com/Ma0Wc23mPc

— Arab News (@arabnews) October 26, 2017

So there will be Saudi-Virgin Group partnership on spaceflight,
satellite launches and space-centric entertainment. But we are not sure what
that means as yet!

The PIF also mentioned it  may include an additional $480 million.

And Richard Branson Is Going To Send A Spaceship In 4 Months

Branson’s Virgin Galactic has not sent a manned aircraft to space but this will change soon as he said spaceship VSS Unity “should be in space in about four months.”

“This partnership with Virgin Group reflects the great
strides the Kingdom is making towards our vision for a diversified,
knowledge-based economy,” Saudi Crown Prince Mohammed bin Salman said 

This Is How Commercial Flying Would Be Like

“The number of people who have been to space is approximately 550. We now have more than 600 people signed up to go,” he said, envisaging a time when “hundreds, thousands, tens of thousands” have access to space flight.

George Whitesides, CEO of Virgin Galactic,

Change is happening on a number of fronts in Saudi Arabia – including through our space endeavours https://t.co/hmb3m1sCT9 pic.twitter.com/HwaxwOQlO9

— Richard Branson (@richardbranson) October 26, 2017

Saudi Twitter Response Was Overwhelmingly
Positive

Proud to see the collaboration between Virgin Group and Saudi Arabia, i am sure for future success and mutual benefits for both parties

— Marwan Bukhary (@MarwanBukhary) October 26, 2017

I’d love to be part of these endeavors, puting my 25yrs of experience in aerospace with you, to serve my beloved country!

— Bader, MBA | بدر (@BaderKurdi) October 26, 2017

Great deals with Great country. Good luck

— م. عبدالله الحجوري (@abdullahaljoh) October 26, 2017

JETSONS Living could be just around the corner..