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Saudi Arabia to invest $1bn into Richard Branson’s space venture
[DAWN] Soddy Arabia...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in the Soddy national face... is poised to invest $1 billion in entrepreneur Richard Branson’s space-tourism and satellite-launching venture, The Wall Street Journal reported on Thursday. The joint announcement had scarce details and described a nonbinding agreement, according to the publication, adding that the deal was announced at a three-day event organized by Saudi Arabia’s Public Investment Fund to showcase Prince Mohammed bin Salman’s vision for a tech-driven economy. "I’m pleased to announce the intention of the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia, pending approval by the US government, to invest approximately $1 billion into our US-based space companies, Virgin Galactic, The Spaceship Company and Virgin Orbit," said Branson in a statement on the Virgin Group website. Posted by: Fred 2017-10-28 |
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