Four Seats for Private Citizens, Some Available to the Public
Musk’s aerospace company will launch four crew members using the Dragon spacecraft and Falcon 9 booster rocket designed by the business. Commanding (and paying for) the historic endeavor, dubbed “Inspiration4,” is billionaire, entrepreneur, and jet pilot Jared Isaacman. Isaacman is the founder of Shift4 Payments, a secure payment processing company with a market cap of $5.82 billion.
Isaacman plans to use the launch as a fundraiser for St. Jude Children’s Research Hospital, a company dedicated to providing free treatment and care for children afflicted by “catastrophic diseases” like cancer.
"St. Jude's mission is not about rockets or space exploration, it's about treating some of the most heart wrenching conditions that any parent could imagine," Isaacman said. "And if we're going to continue making advances up there in space, then we have an obligation to do the same down here on Earth.”
Joining Isaacman aboard the spacecraft will be three crew members representing the pillars of the mission: Hope, Generosity, and Prosperity. The members have yet to be named; however, the member representing Hope is a St. Jude ambassador. The Generosity seat is available to the winner of a drawing entered by donating to St. Jude Children’s Hospital. The Prosperity seat is reserved for the winner of an entrepreneurial contest run by Shift4 Payments.
Businesses Tapping Into an ‘Out of This World’ Market
With today’s technological advancements in the aerospace industry, companies are now planning for tourism and travel businesses in space, both in and out of orbit. Currently, prices for such services are incredibly expensive and targeted toward the wealthy. Individuals reportedly paid $55 million each to be a part of a trip to the International Space Station.
Multinational investment bank UBS estimates that the space tourism business will be worth $3 billion by 2030. As a result, the firm expects the space industry as a whole to be worth some $805 billion by 2030, twice what the business was valued at in 2019.
Companies like Bezos’s Blue Origin and Virgin Galactic are vigorously pursuing private and commercial suborbital flights where customers of the businesses are able to experience weightlessness for several minutes. The Inspiration4 mission is unique in that the civilian crew will actually enter orbit and spend over a day in space. For now, the greatest hurdle to the space tourism industry is the cost to the consumer.
About the Author
James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.