Richard Branson Says He Will Not Invest More Money into Virgin Galactic Written 5 December 2023

Virgin Galactic's VSS Unity and the Galactic01 crew prepare to take off from Spaceport America in New Mexico. | Credit: Virgin Galactic–©

CNN reports that shares of Virgin Galactic, “the space tourism venture founded by Richard Branson, are plunging after the British billionaire said he has no plans to invest more money in the company as he says it has ‘sufficient funds’ already.” This news contributed to Virgin Galactic’s stock falling 16% at market open on Monday. Virgin Galactic “has had a landmark year, flying its first customers to the edge of space after years of waiting.” But the company “has also been in a state of flux, having just laid off about 20% of its staff and working to introduce a new line of suborbital spacecraft that will supplant the vehicle it’s spent more than a decade developing.” 
Full Story (CNN)