Black eye for Richard Branson as his space empire teeters
Virgin Orbit Holdings, the satellite-launch firm that only a few months ago was poised to play a major role in Britain’s space programme,after cash dried up. That dragged down the stock of Branson’s other space company, Virgin Galactic Holdings, whose shares hit the lowest level this year.
Branson has become a face of the industry alongside fellow billionaires Jeff Bezos and Elon Musk, particularly after the British mogul’s 2021 space flight. Enthusiasm around that mission, aboard Virgin Galactic’s VSS Unity spaceship, sent Virgin Galactic’s market value above US$13-billion.That company has had its struggles since. After Branson’s flight, it was revealed that the craft had deviated from its intended flight path during the trip, triggering a federal investigation.
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