• In June 2017, Virgin founder Richard Branson hosted the women of the SuperShe community on his Necker Island property in the British Virgin Islands.
• SuperShe founder Kristina Roth told Business Insider that she rented out the island for the retreat and co-hosted it with Branson.
• Somewhere along the way during the retreat, Branson found himself wearing a mermaid tail.

  ---

Virgin founder Richard Branson welcomed some guests on his private abode of Necker Island late last June.

Branson's guests were part of the SuperShe community, which is comprised of independent women that strive to empower themselves and each other through wellness and sisterhood.

The SuperShe community, which usually participates in female-only restorate retreats, descended upon the British Virgin Island property that Branson purchased in 1978 for a one-week-long retreat in collaboration with Branson as well as others in his network.

At one point during the retreat, SuperShe founder Kristina Roth told Business Insider that she had a private photoshoot, complete with mermaid tails, with Branson and fellow SuperShes.

The SuperShe and Branson collaborative retreat involved both men and women and focused on the entrepreneurial side of SuperShe, according to the website. It was spent discussing and brainstorming new ideas, with the SuperShes breaking off at one point to conduct their usual workshops. 

Roth told Business Insider that she rented out Necker Island for the retreat, which was co-hosted by Branson.

As for Branson, he seems to have enjoyed himself despite Alaska Air announcing three months prior that his brand and airline Virgin America would be retired by 2019. Branson's Virgin America was acquired by Alaska Air in 2016 for $2.6 billion and, as of this month, Virgin flights and the airline's brand are now defunct. 

SEE ALSO: Alaska Airlines is scrapping the Virgin America brand — here's what else is going to change

Join the conversation about this story »

NOW WATCH: We interviewed Pepper - the humanoid robot

• Virgin founder Richard Branson wrote on his Virgin blog Monday, applauding Dr. Dre and Jimmy Iovine's approach to overcoming fear and obstacles.
• Branson refers to the HBO documentary series "The Defiant Ones," which details the partnership between the two Beats Electronics creators.
• The post comes as Iovine moves from his role as chief of Apple Music to a consulting role at the company.

Virgin founder Richard Branson is a fan of HBO's "The Defiant Ones."

The four-episode documentary details the lives and partnership of rapper and producer Dr. Dre and longtime music producer Jimmy Iovine. In a post Monday, Branson applauded the documentary and hailed the two entrepreneurs for their approach to overcoming fear time and time again.

"One quote from Jimmy stood out for me: 'Make fear a tailwind instead of a headwind.' Let fear give you the momentum to move forward — not hold you back," Branson said in his post.

Branson said fear is something we feel throughout our lives — "especially when starting out at something new" — and that it's a healthy emotion so long as it doesn't hinder us from taking new opportunities.

In March, Iovine confirmed the rumors that he was stepping back from Apple's Music team starting in August and moving into a consulting role.

Dre got his start in the seminal rap group NWA and went on to become an important music producer, working with the likes of Eminem, Snoop Dogg, and 50 Cent. Iovine, similarly, produced albums for Tom Petty and the Heartbreakers and Bruce Springsteen, to name a few.

Iovine and Dre formed their partnership in 2006 with the launch of their company, Beats by Dr. Dre, now known as Beats Electronics. In 2014, Apple acquired the company for $3 billion, bringing both Iovine and Dre on board at Apple full time, giving Apple a popular line of headphones and using the pair's Beats Music streaming service as the basis for Apple Music.

The acquisition remains Apple's largest in its history.

SEE ALSO: Apple is working on high-end headphones that may launch as soon as this year

Join the conversation about this story »

NOW WATCH: These 13 medical technologies are changing lives

• Richard Branson says he's months away from becoming an astronaut, and "neck and neck" with Jeff Bezos in the race to begin space tourism.
• Both Branson and Bezos' respective companies, Virgin Galactic and Blue Origin, have completed successful test flights in recent weeks.
• But Branson has broken several promises before about the imminent prospect of space travel, so maybe his latest claim is a bit of billionaire bravado.

In the billionaire space race, Richard Branson reckons he's level with Amazon CEO Jeff Bezos. That's what the British entrepreneur told the BBC this week, raising hopes that space tourism will become a reality very soon.

In an interview with BBC Radio 4, Branson said of Bezos: "I think we're both neck and neck as to who will put people into space first. We're talking about months away, not years away — so it's close."

Branson added that he hopes to become an astronaut within 12 months with Virgin Galactic, and he is already preparing for his experience, including gruelling centrifuge training.

Bezos, meanwhile, hopes his company Blue Origin can start offering suborbital space tourism flights by 2019. And in the same week Branson made his comments, he said the space company is "the most important work I am doing."

But is it all billionaire bravado?

But while Branson said the imminent prospect of space travel is "exciting," there are reasons to treat his claim with a grain of salt. The billionaire has consistently teased the idea that space tourism is just around the corner, and is yet to deliver on his previous promises.

One of his most recent pledges came in October last year, when he told CNBC that he would be "very disappointed if I haven't been into space within six months or so." Well, six months came and passed in April and Branson is yet to leave Earth's atmosphere.

In fact, British satirical magazine Private Eye has kept track of the times Branson has said space travel is upon us, only for the actual flight not to materialise. It counted 15 separate broken promises by Branson, up to the point when Virgin Galactic's VSS Enterprise crash landed over the Californian desert in October 2014, killing a pilot.

Since then, there have been promising signs for Virgin Galactic. In April, the company completed a supersonic test flight of its SpaceShipTwo passenger rocket ship. And there's no reason to doubt that Bezos will not achieve his aim of sending tourists into space next year after a textbook test flight last month.

But as for Branson's claim that this is all months away, well there's plenty of reasons why you should treat that as a bit of billionaire bravado as the space race really heats up.

SEE ALSO: Jeff Bezos' Blue Origin rocket successfully lifts off and lands back on the ground in textbook test flight

Join the conversation about this story »

NOW WATCH: We interviewed Pepper - the humanoid robot

The people we've come to associate with the most successful technology companies were once relatively unknown names with big dreams. So if they could do it all over again, would they do it any differently?

The answer to this commonly-asked interview question tells us what we want to learn from the people who have, in our eyes, "made it." And leaders in the tech industry are successful because they created something — or saw potential in something — in a way that no one else did. The advice they would give their younger selves, then, is often informative and motivational. 

Digital advertising company AdView compiled quotes from across the internet to create these inspirational posters for a series called "What Would You Tell Your Teenage Self?" We found our favorites and pulled a few others from various interviews over the years.

Here's the advice these 16 leaders in the tech industry told interviewers they would tell their younger selves:

"Smartness is not single dimensional and not quite as important as I thought it was back then."

In Bill Gates' Reddit AMA last year, user UncomfortableChuckle asked "If you could give 19 year old Bill Gates some advice, what would it be?"

The second richest man in the world responded, "I would explain that smartness is not single dimensional and not quite as important as I thought it was back then. I would say you might explore the developing world before you get into your forties. I wasn't very good socially back then but I am not sure there is advice that would fix that - maybe I had to be awkward and just grow up...."

"Find work you love. Believe you can do anything. There is no straight path to where you are going."

The question was posed by a Quora user, and Sandberg took the time to lay out a detailed response, in the form of three pieces of advice instead of the one.

1. Find work you love. When you believe in what you are doing, you can combine passion with contribution – and that is a true gift. Keep trying and you will find what you love to do… and once you do, you will crush it.
2. Believe you can do anything. This is important for everyone and especially for women. Don’t let anyone tell you can’t have both a meaningful professional career and a fulfilling personal life. When you hear someone say you can't do something, know that you can and start figuring out how. Ask yourself, “What would I do if I weren’t afraid?”
3. There is no straight path to where you are going. If you try to draw that line you will not just get it wrong, but you will miss big opportunities. As Pattie Sellers of Fortune Magazine says, careers are not ladders but jungle gyms.  You don't have to have it all figured out. I recommend adopting two concurrent goals.

"A healthier lifestyle ultimately makes me more creative and allows me to think more cohesively."

That was Dorsey's simple response when Y Combinator interviewed Jack Dorsey in 2016.

"When I was young I didn’t understand the value of exercise or health and how that affected my intellect," he added. "I think it was useful for me to go to all the extremes to find the balance I have now, but I wish I focused more on being healthier in the past. A healthier lifestyle ultimately makes me more creative and allows me to think more cohesively."

• Virgin Media Business runs a pitch competition annually called VOOM. 
• Below, Richard Branson reflects on this year's VOOM.
• He says each of the great entrepreneurs with brilliant businesses faced challenges, or obstacles, and saw them as opportunities. 
• To be successful and have fun, take your frustrations and turn them into inspiration.

Reflecting on another fantastic VOOM, I got thinking about what really drives people to start brilliant businesses. It’s surprising – or maybe not – how regularly the reasons have a lot in common. It is often about being frustrated by something, and using that as inspiration to solve the challenge.

My fellow VOOM judges had some good examples. Innocent co-founder Richard Reed shared that his first job was working in a dog biscuit factory in Huddersfield, earning £2 per hour. He got in on his first day and learned that his role was to get on his hands and knees and pick up the dog biscuits that fell off the conveyor belt onto the floor.

He thought there must be a better way to earn a living than this, but was willing to give it a go. Being an enterprising young man, he realised he could be more efficient if he used a tool. He tracked down the foreman of the factory and asked him if he had a brush he could borrow. The foreman replied to him: “Son, you are the brush.” It was at that moment that Richard knew he wanted to be his own boss and would become an entrepreneur.

Fellow judge Sophie Morgan discussed how she was inspired to use the worst moment of her life – being in a car crash - to fuel her future. She encountered problems being in a wheelchair, but rather than being disheartened she set about creating businesses to solve the challenges. This is all about mindset – rather than seeing obstacles, she saw opportunities.

Finally, Virgin Media’s Going The Extra Mile director Sir Mo Farah had some advice about how sport has crucial lessons for entrepreneurs.

In both disciplines, you have to be honest with yourself and be ruthless in order to succeed. You will have setbacks and you will make mistakes. But if you don’t get frustrated by the mistakes, and instead use them to propel yourself forward, your performance will improve.

Whatever you are doing in life, running a race, starting a business – anything – use your frustrations as inspirations and you will have more chance of success and have a lot of fun along the way.

SEE ALSO: 3 ways to become truly happy and more productive, according to Richard Branson

Join the conversation about this story »

NOW WATCH: Why the World Cup soccer ball looks so different

• Richard Branson thinks the US and Europe should start giving citizens free cash.
• He's a supporter of universal basic income — a living wage provided by a nation's government to all its people.
• "I think with artificial intelligence coming along, there needs to be a basic income," Branson told The New York Times on Saturday.

Richard Branson is an advocate of universal basic income.

That's to say he believes that everyone should receive a living wage from the government, regardless of financial status.

"A basic income should be introduced in Europe and in America," Branson told The New York Times on Saturday.

"It's great to see countries like Finland experimenting with it in certain cities," he said. "It's a disgrace to see people sleeping on the streets with this material wealth all around them."

The experiment Branson was referring to in Finland was shut down earlier this year. The Finnish government gave 2,000 unemployed Finns about $690 a month, no strings attached.

Decision-makers pulled the brakes on the project and decided to invest in other areas of social welfare.

"Two years is too short a time frame to be able to draw extensive conclusions from such a vast experiment," Olli Kangas, a professor who was one of the experts behind the basic-income trial, told Finland's public-service broadcaster YLE.

Branson went on to say, "I think A.I. will result in there being less hours in the day that people are going to need to work."

"You know, three-day workweeks and four-day weekends," he said. "Then we're going to need companies trying to entertain people during those four days, and help people make sure that they're paid a decent amount of money for much shorter work time."

Branson is among numerous high-profile figures who believe that the rise of automation will necessitate basic income as the size of the human workforce is reduced.

Earlier this month, Tesla CEO Elon Musk tweeted: "Universal income will be necessary over time if AI takes over most human jobs."

"Let's face it: There is something wrong with our system when I can leave [Harvard] and make billions of dollars in 10 years, while millions of students can't afford to pay off their loans, let alone start a business," Facebook CEO Mark Zuckerberg said in his commencement address at his alma mater. "We should explore ideas like universal basic income to give everyone a cushion to try new things."

SEE ALSO: Finland is killing its experiment with basic income

Join the conversation about this story »

NOW WATCH: The man that won the Nobel Prize in economics for contract theory shares his thoughts on smart contracts

• Speaking at a blockchain conference in Morocco, Google co-founder Sergey Brin said that he's been mining ethereum with his son.
• Brin said that while Google has been slow to explore blockchain technology, he personally found the technology to be  "mind-boggling" and "extraordinary." 

Google co-founder Sergey Brin and his son have been mining ethereum.

At a blockchain conference hosted by Sir Richard Branson in Morocco, Brin, dressed in a white caftan, appeared on a panel to discuss the potential of blockchain technology.

Brin said that he first became interested in blockchain technology when his son asked for a gaming PC.

"A year or two ago, my son insisted that we needed to get a gaming PC," said Brin. "I told him, 'Okay, if we get a gaming PC, we have to mine cryptocurrency. So we set up an ethereum miner on there, and we've made a few pennies, a few dollars since."

Brin, who currently serves as the president of Google's parent company, Alphabet, said that Google had been slow to pick up blockchain technology.

"[Google] already failed to be on the bleeding edge," he said.

While Brin admitted that he didn't know too much about cryptocurrencies, he said that he found the technology's potential to be "extraordinary."

"It's mind-boggling," said Brin. "I see the future as taking these...research-y, out-there ideas and making them real."

Brin, who was a last-minute addition to the conference, was recently spotted sailing off the coast of Ibiza alongside venture capitalist Steve Jurvetson. 

Join the conversation about this story »

NOW WATCH: A diehard Mac user switches to PC

• Richard Branson has achieved a lot — he's a billionaire, he resides on his own privately-owned island and founded global corporation Virgin.
• But Branson's life wasn't always so easy: he battled with dyslexia and struggled badly at school.
• In spite of the challenges that faced him, he stuck to his guns and transformed his struggles into strengths.

Richard Branson lives a life many hanker after: as a billionaire who resides on his own privately-owned island and the head of global corporation Virgin, it's not hard to see why. And he managed to achieve all this in spite of leaving school early.

Time and again, Branson encourages young people to stay faithful to themselves in the face of all odds. After all, he's living proof that anything is possible — as a child, he struggled greatly with dyslexia. No one ever dreamed that he would pioneer a global music and video game company, an airline and a space project.

There's a secret to Bransons' success, and it's very simple

He has one piece of advice for anyone still at the beginning of their careers: don't give up. On Virgin's website, he said:

"There have been so many times in my career where my ideas were overlooked. Friends, family members, people I looked up to, and the banks – not everyone always saw the potential I saw. But that didn't deter me. Just because others don't believe in your ideas from the get-go doesn't mean that they are worthless. In my case, it drove me to want to succeed even more."

He believes there's always a second chance in life, for everything — and that if you give up, you never know what you would have achieved in the end.

"Imagine where J.K. Rowling would be if she didn't keep persevering when others didn't recognise the greatness of her books," he said. "Harry Potter and the Philosopher's Stone was rejected 12 times and she was told not to quit her day job! Thomas Edison failed thousands of times to invent the lightbulb — if he'd given up, we'd all be in the dark. "

Branson also learned from his mistakes

After Branson failed at school, he could have accepted his fate. Yet, instead, he made his greatest weakness his greatest strength: he learned to love everything simple through dyslexia, which later became the business principle when he founded Virgin.

Richard Branson is convinced everyone can write their own future

"Nobody gets everything right first time, and it is how we learn from our mistakes that defines us. We all deserve a second chance."

SEE ALSO: Researchers suggest a 'depression' gene could also make you more successful

Join the conversation about this story »

NOW WATCH: Super-Earths are real and they could be an even better place for life than Earth

• Virgin Voyages recently released renderings for its maiden ship, the Scarlet Lady. 
• The ship features interiors and exteriors imagined by Tom Dixon Design Studio of London, Roman and Williams of New York, and Concrete Amsterdam
• Among many amenities, the cruise liner boasts a nightclub, a thermal spa, two restaurants, an indoor and outdoor athletic club, and a barbershop. 
  

  ---

Virgin Voyages, the cruise line company launched by Virgin Group founder Sir Richard Branson, has released renderings of their new cruise ship, the Scarlet Lady, and they are pretty remarkable.  The brand's design concept is "The Modern Romance of Sailing," and it features both interiors and exteriors imagined by a handful of the world's most successful design firms. 

The Scarlet Lady will be geared toward adults, as an 18-year-old age requirement will be held in order to board. 

Tom Dixon Design Studio of London, Roman and Williams of New York, and Concrete Amsterdam are just some of the groups Virgin Voyages has partnered with to create the unique beauty of the ship. 

"Our design partners together with our internal design team have dreamed up eye-catching, intimate and alluring spaces that we can’t wait to see come to life," said Tom McAlpin, President and Chief Executive Officer for Virgin Voyages, in a statement to Business Insider. 

There is a stylish private outdoor lounge called Richard's Roof-deck, which is exclusive to the ship's suite guests. The more communal outdoor relaxation area for the rest of the ship's guests is called The Dock, which allows sun-bathing during the day and star-gazing at night. 

Inside the ship, there are two main restaurants. Pink Agave will serve delicious Mexican cuisine in an upscale modern setting with hanging blue lights and curved lounge tables. Then there is Test Kitchen restaurant, which features a cool, metallic-steel vibe and an entire faux periodic table serving as light fixtures in the entrance way. 

In terms of fitness and relaxation, the ship has an outdoor athletic club which features boxing bags and a running track, and an indoor gym that showcases stationary bicycles, group fitness classes, and yoga. Then there is Redemption, the ship's exclusive thermal spa that boasts a hydrotherapy pool, mud room, salt room, cold plunge pools, quartz beds, and other spa treatments. For those looking for more refined treatments, the Scarlet Lady also has a Mani-pedi spa, a barbershop, and a blow dry hair salon. 

The Scarlet Lady name is a two-pronged choice for Virgin Voyages. On one hand, the name is inspired by one of the earliest planes flown by Virgin Atlantic Airways. On the other, it reflects Virgin Voyages's conscious choice to promote female management and leadership positions on cruise ships, which they will do so on the Scarlet Lady through the "Scarlet Squad" recruitment and training program. 

"I want all future crew to know that Virgin Voyages will create an onboard environment that is fair, inclusive and where everyone has an opportunity to reach their full potential," McAlpin said.

According to Virgin Voyages' press release, the ship is expected to arrive in Port Miami in 2020 for its maiden journey. There will be a capacity of 2,700 passengers and 1,150 crew members. A second ship is set for delivery in 2021. 

Have a closer look at the Virgin Voyages Scarlet Lady:

SEE ALSO: These 10 airlines have the most luxurious first-class cabins in the world

FOLLOW US: On Facebook for more car and transportation content!

Here's Virgin Voyages' The Scarlet Lady. Let's take a quick tour around the ship.

Beginning on the ship's top deck, we find Richard's Rooftop. This private club features a futuristic aesthetic that only guests staying in suites will have access to.

On the other side of the ship is the Crow's Nest, a 360-degree secluded sun deck where guests can get away to do some yoga or sunbathe.

• Virgin Atlantic Airways is the crown jewel of Sir Richard Branson's aviation portfolio.
• I recently flew Virgin Atlantic from London Heathrow to New York's JFK International Airport.
• Virgin Atlantic's service, style, and entertainment options lived up to expectations, but its economy-seat comfort left much to be desired. 

Virgin Atlantic Airways is a survivor. For most of its 34-year history, the plucky British airline has been taking the fight to larger and more established rivals.

Through it all, Virgin Atlantic has survived everything from the economic recession to an underhanded smear campaign by British Airways during the early 1990s.

Even though several airlines around the world have worn Virgin Group livery, including Virgin Australia and the soon-to-disappear Virgin America, Virgin Atlantic has always been Sir Richard Branson's baby. After all, the billionaire sold his once prized Virgin Records in 1992 to keep the airline afloat.

In late 2012, Willie Walsh, the CEO of British Airways' parent company, International Airlines Group, bet Branson, Virgin Group's founder, that his airline would be out of business within five years — loser gets kneed in the crotch.

Now, with Delta and Air France-KLM holding 80% of its shares, Virgin Atlantic is not only still flying, but in a stronger position as ever. And to my knowledge, Branson has yet to collect on the bet.

With roughly 45 planes in its fleet, Virgin Atlantic isn't a very big airline. British Airways, for example, has more than 270 planes, while a major US legacy carrier like Delta has nearly 900 mainline jets in its inventory.

However, the crown jewel of Branson's aviation portfolio is certainly influential. From its mood-light-drenched cabins to its stylish dressed staff, Virgin delivers service with a style and flair all its own.

On a recent business trip to the UK, I decided to fly Virgin Atlantic's bread-and-butter service between New York and London. It's arguably the most competitive route in a highly lucrative transatlantic-airline market. On the flight out from Newark Liberty International Airport, I took VS02, one of the airline's original flights dating back to its days as a one-plane operation.

Since it was an evening flight that took off at 10:30, I decided to document my afternoon flight back from London.

Here's a closer look at my most recent trip on Virgin Atlantic Airways.

SEE ALSO: RANKED: The 20 best airlines in the world

FOLLOW US: On Facebook for more car and transportation content!

My Virgin Atlantic experience started at Heathrow Airport Terminal 3. To be safe, I arrived two hours before my flight. Fortunately, baggage drop and security took a brisk 30 minutes, meaning I was left with a half hour to do nothing while I awaited the boarding announcement one hour before takeoff.

While waiting for my flight, I caught a glimpse of Qantas Boeing 787-9 "Great Southern Land" ahead of its return flight to Perth, Australia. I was actually on this plane's delivery flight last October.

As I made my way through the labyrinth that is Terminal 3, I caught a glimpse of our plane.

• British billionaire Richard Branson has sold his 32-meter catamaran Necker Belle for $3 million.
• Branson bought Necker Belle for £5.3 million in 2009, when the catamaran was named Lady Barberetta.
• Necker Belle was often based in Branson's private Necker Island in the British Virgin Islands and was available for charter from $60,000 per week.

Richard Branson, the prolific British billionaire and mastermind behind the Virgin brand, has now sold his 32-meter catamaran, Necker Belle at an asking price of $3 million. This follows her being listed for sale in 2014 asking €8.5 million.

Launched in 2003 by CMN, the 32-meter catamaran features a total of 4 cabins for a maximum of 10 guests. Stretching over a beam of 14 meters, the yacht was refitted in 2009. Powered by Caterpillar engines, she could reach a top speed of 20 knots.

Lately part of Branson's Virgin Limited Edition collection, Necker Belle was available for charter from $60,000 per week amongst other assets such as his private Necker Island in the British Virgin Islands where she was often based or his estate in Switzerland.

Branson, a billionaire since the 1990s, purchased the catamaran in 2009, when she was named Lady Barberetta, at an asking price of £5.3 million, before renaming her to Necker Belle, after his island in the British Virgin Islands. In 1986, Branson had broken the record for a Transatlantic crossing on a motor yacht on the Virgin Atlantic Challenger 2.

"I’m not really into motor yachts. We had great fun breaking the record on VAC II but I’d get bored cruising on a motor yacht." Branson said in an interview.  "I sold it the day after we broke the record and have never had another one since."

"I love the platform of a big catamaran. There’s tonnes of space on board and it’s so much more stable than a conventional monohull, so it’s great for guests who sometimes feel queasy afloat" he added. "I love to have friends on board to explore the nearby islands, and of course the submarine adds another whole dimension to cruising the Caribbean. It’s like flying a mini fighter jet under water."

Valued by Forbes at $5 billion, Richard Branson was born in 1950 and became one of Britain's most famous entrepreneurs. Starting a magazine at 16, which ultimately failed, he later went into the record business, and expanded the Virgin brand in the 1980s. Today spanning over 400 companies, Virgin's most ambitious project is to enter space flights.

Launched in 2003 by CMN, Necker Belle was refitted in 2009 after Branson bought the catamaran. On the charter market since 2012, she was listed for sale in 2014 asking €8.5 million and underwent several price reductions up until her recent sale at a $3 million asking price.

SEE ALSO: An investment chief at a trillion-dollar firm breaks down how to avoid some of the costliest mistakes American investors make when buying into other countries

Join the conversation about this story »

NOW WATCH: What drinking diet soda does to your body and brain

Billionaires Elon Musk, Jeff Bezos, and Richard Branson all want to send private citizens to space. Their respective companies, SpaceX, Blue Origin, and Virgin Galactic are dedicated to making space travel and space tourism more accessible. Following is a transcript of the video.

Narrator:  SpaceX, Blue Origin, and Virgin Galactic are in a modern space race. Similar to when the United States and the Soviet Union competed to get astronauts on the moon, these billionaire-run companies are racing to bring people like you and me to space. But how will they do it?

Let's start with Blue Origin, the passion project of Amazon CEO Jeff Bezos. Blue Origin's focus is on commercial space flight, or space tourism. It plans to shoot a booster rocket with an attached passenger capsule to 60 miles above the surface into sub-orbital space. At the top of the rocket's arch, the capsule will detach, and for about four minutes, passengers will experience weightlessness. They'll be allowed to unbuckle their seat belts and float around the cabin, looking out the window at the curvature of the Earth. The capsule will then start to fall back into the atmosphere, and parachutes will deploy to bring it down slowly. The whole trip only lasts about 11 minutes. A ticket on Blue Origin's New Shepard will likely cost more than $200,000. That's over $18,000 a minute. Blue Origin has tested the New Shepard rocket nine times, and the company still hopes to send civilians into space in 2018.

Virgin Galactic also aims to make commercial space travel accessible. But the vehicle it's using looks quite different. Virgin Galactic's SS Unity looks more like a plane than a rocket. The ship is made up of the WhiteKnightTwo, a carrier airplane, and SpaceShipTwo, a passenger spaceship. SpaceShipTwo can carry six passengers and two crew members. The passenger ship detaches from the carrier plane about nine miles above the Earth's surface. The ship then fires its rocket engines to blast about 50 miles further until it reaches sub-orbital space. Similar to Blue Origin, passengers will experience four to five minutes of weightlessness before the ship re-enters the atmosphere. The total trip should last about two and a half hours. Virgin Galactic has conducted three rocket-powered test flights of the SS Unity and it hopes to get its first passengers to space by the end of 2018. Founder Richard Branson will be one of the first people to take the trip. And Virgin Galactic has already sold 700 tickets for future flights, costing $250,000 each.

Elon Musk's company SpaceX also wants to send people to space. SpaceX's ultimate goal is to establish colonies on other planets. The ship SpaceX intends to send to Mars could hold 100 people, and the ride would be a lot longer than four minutes. But SpaceX also plans to send people to space on their way to other earthly destinations. The Big Falcon Rocket will briefly enter space to make long-distance travel shorter. Traveling by rocket from New York to Tokyo, for example, would only take 37 minutes. And it would take no more than an hour to get anywhere on Earth.

Blue Origin, Virgin Galactic, and SpaceX are major players in the modern space race, but there are even more companies out there. It's estimated that space tourism could generate $1.6 billion in revenue in the next decade. So no matter which company crosses this finish line first, there will inevitably be another race. After all, space is infinite.

Join the conversation about this story »

• Richard Branson previously said he was "months" away from launching Virgin Galactic's first rocket into space — on Tuesday he said it will happen within "weeks."
• He told CNBC that his team are "more than tantalizingly close" to a launch.
• Branson wants to put himself into space as soon as possible too, and says he will be onboard one of his rockets within "months."
• Virgin Galactic is "neck and neck" with Blue Origin, run by Amazon's Jeff Bezos, to provide the first commercial spaceflight, Branson said in May.

Virgin Galactic founder Sir Richard Branson says his team are only "weeks, not months" away from putting their first rocket in space — and Galactic are "neck and neck" with Jeff Bezos' Blue Origin program for the first commercial spaceflight.

Speaking to CNBC on Tuesday Branson said his project was "more than tantalizingly close" to launching and he will be putting people in space not too long after that.

"So we have got a very, very exciting couple of months ahead,"he said.

Branson said in May that Virgin Galactic and Bezos' Blue Origin were tied in the race for the first commercial spaceflight. 

Talking to the BBC at that time, Branson said: "I think we're both neck and neck as to who will put people into space first. We're talking about months away, not years away — so it's close."

At the time Branson added that he hoped to become an astronaut within a year with Virgin Galactic. But Branson improved that prediction on Tuesday to "months, not years" until he will personally be in space.

When asked about consumer demand for space travel, he told CNBC: "I think the market for people who would love to become astronauts and go to space is gigantic. And it is up to us to produce as many spaceships as we can to cater with that demand."

Branson is often criticised for over-estimating his project's launch dates, and has been delayed many times before, Business Insider reported.

One ticket on the Virgin Galactic project costs around $250,000.

Read more about how Elon Musk's Space X, Blue Origin, and Virgin Galactic will take people to space in the future.

Join the conversation about this story »

NOW WATCH: Apple's entire iPhone XS event in 8 minutes

• The world's ultra-wealthy spend money on things that most people can't even fathom buying.
• One tech billionaire bought his own Hawaiian island, and a hedge fund manager spent at least $8 million on a 14-foot preserved shark.
• From private islands to dinosaur fossils and tickets to outer space, here are 10 things you'd only buy if you had more money than you'd ever need.

When you have more money than you know what to do with, it might not seem like a big deal to spend $8 million on a preserved shark, $2.2 million on a gold bathtub, or millions more on luxurious superyachts and private islands.

Business Insider previously calculated that the typical billionaire can afford to spend $80 million a year.

Here are 10 outrageously expensive things millionaires and billionaires spend their money on.

SEE ALSO: This $446 million mansion in Hong Kong could break the record as the most expensive home ever sold in the world's most expensive housing market — and it's surprisingly modest

1. Tickets to outer space

Celebrities Ashton Kutcher and Katy Perry are among those who have reportedly bought tickets for a space tour aboard Richard Branson's Virgin Galactic spacecraft.

Source: Business Insider

Kutcher put down a $20,000 deposit for his $200,000 ticket in 2012.

Source: Business Insider

• Richard Branson told Elon Musk that he needed to delegate more to improve his quality of life outside Tesla.
• In comments to CNBC, Branson also told Musk to stop tweeting and focus on what he's good at.
• "He's a wonderfully creative person, but he shouldn't be getting very little sleep," Branson said.

Richard Branson has some advice for Elon Musk, billionaire to billionaire: Cool your jets.

It has been a frenetic few months for the Tesla CEO. He had a meltdown over his workload in an interview with The New York Times and nearly dragged his company into a Securities and Exchange Commission lawsuit.

The two billionaires are locked in a space race alongside Amazon CEO Jeff Bezos, but that didn't stop Branson, the founder of Virgin Group, from sharing some friendly words of encouragement for Musk.

"He's got to find time for himself. He's got to find time for his health and for his family,"Branson told CNBC on Tuesday. "He's a wonderfully creative person, but he shouldn't be getting very little sleep."

Branson added that Musk "needs to learn the art of delegation" and should work to "find a fantastic team of people around him."

Branson appeared to be advocating a model closer to how he runs Virgin Group. Josh Bayliss is the CEO, while Peter Norris is the company's chairman. Branson is a director, but he also acts as an ambassador for the firm and continues to have a big say about its future.

It chimes with the advice of others who have told Musk to find a chief operating officer for Tesla who's capable of overseeing the day-to-day operations of the electric-car maker. But even if Musk decides to ignore that suggestion, Tesla will have to find a new chairman to replace him, a condition of his settlement with the SEC; Al Gore has been named as a potential candidate.

But Branson's words of wisdom did not stop there — he also told Musk to stop tweeting.

"Don't feel you have to put out tweets and things about public shareholders — leave the public game to people who enjoy the public game," Branson said. "He obviously doesn't enjoy it, so clear the deck so that you can actually then concentrate on the creative side."

SEE ALSO: Every puzzling thing that has happened since Elon Musk tweeted that he had 'funding secured' to take Tesla private

Join the conversation about this story »

NOW WATCH: An aerospace company reintroduced its precision helicopter with two crossing motors

• Sir Richard Branson, founder of the Virgin Group, has an estimated net worth of $5 billion.
• When he spends his money indulgently, it's only to make money in return — like renting out real estate he owns, such as Necker Island.
• In fact, Branson once said in an interview that he's "embarrassed" by displays of wealth, like leaving large tips and buying things for "pure luxury."
• A member of the Giving Pledge, Branson would rather spend his money on philanthropy.

Nearly 50 years after dropping out of high school at age 15 and founding his first business, Sir Richard Branson is now the billionaire chair of the Virgin Group, which brings in more than $21 billion annually in global revenue.

Having overseen approximately 500 companies, Branson, who is known for his charisma and eccentric behaviors, has an estimated net worth of $5 billion.

Ever the savvy businessman, Branson has spent some of his billions indulgently, but only to make money in return — like renting out real estate he owns (think Necker Island). When it comes down to it, Branson is rather frugal, opting not to own objects of pure luxury. He also donates much of his time and money to philanthropic efforts.

Below, see how the eccentric leader spends his billions.

SEE ALSO: Warren Buffett is the world's third-richest man — see how the notoriously frugal billionaire spends his fortune

DON'T MISS: Bill Gates is worth $95 billion and he plans to give most of it away — here's how he spends his money now, from a luxury car collection to incredible real estate

Richard Branson launched his first business at age 15. In 1972, he founded Virgin Records and went on to launch the Virgin Group conglomerate. Through this, he's built an estimated $5 billion net worth.

Source:Forbes, Business Insider

Branson is well-known for his jet-setting adventures and eccentricity, such as dressing as a butterfly to run a marathon.

Source: Business Insider

Virgin Media, Virgin Australia, and Virgin Atlantic are some of the biggest companies under Virgin Group.

Source:Financial Times

• Sir Richard Branson and Virgin Group are severing their business relationships with the Kingdom of Saudi Arabia.
• In a blog post on Virgin Group's website, Branson announced that Virgin Galatic and Virgin Orbit will suspend its business dealings with the Public Investment Fund (PIF) of Saudi Arabia. 
• Virgin Group's space divisions had been in discussions with the PIF for more than $1 billion in investments, Reuters reported. 
• The decision to cut business ties with Saudi Arabia comes after the disappearance of the journalist Jamal Khashoggi from the Saudi Consulate in Turkey last week.

Sir Richard Branson and Virgin Group are severing their business relationships with the Kingdom of Saudi Arabia and its leader Crown Prince Mohammed bin Salman following the disappearance of Saudi journalist Jamal Khashoggi in Turkey last week.

In a blog post on Virgin Group's website, the company's founder announced that Virgin Galatic and Virgin Orbit will suspend its discussions with the Public Investment Fund (PIF) of Saudi Arabia. 

"What has reportedly happened in Turkey around the disappearance of journalist Jamal Khashoggi, if proved true, would clearly change the ability of any of us in the West to do business with the Saudi Government," Branson said in the post. "We have asked for more information from the authorities in Saudi and to clarify their position in relation to Mr. Khashoggi."

Virgin Group's space divisions had been in discussions with the PIF for more than $1 billion in investments, Reuters reported. 

In addition, Branson will also suspend his association with two tourism projects on the Red Sea. 

Khashoggi has not been seen since visiting the Saudi Consulate in Istanbul last Tuesday to pick up marriage documents. Turkish authorities believe the Washington Post columnist and critic of the Saudi Arabian Government was killed in the consulate. The 59-year-old had been living in exile. 

Here is Sir Richard's blog post in its entirety:

I had high hopes for the current government in the Kingdom of Saudi Arabia and its leader Crown Prince Mohammed bin Salman and it is why I was delighted to accept two directorships in the tourism projects around the Red Sea. I felt that I could give practical development advice and also help protect the precious environment around the coastline and islands.

What has reportedly happened in Turkey around the disappearance of journalist Jamal Khashoggi, if proved true, would clearly change the ability of any of us in the West to do business with the Saudi Government. We have asked for more information from the authorities in Saudi and to clarify their position in relation to Mr Khashoggi.

While those investigations are ongoing and Mr Khashoggi’s presence is not known, I will suspend my directorships of the two tourism projects. Virgin will also suspend its discussions with the Public Investment Fund over the proposed investment in our space companies Virgin Galactic and Virgin Orbit.

SEE ALSO: Here’s everything we know about the troubling disappearance of Saudi journalist Jamal Khashoggi

FOLLOW US: On Facebook for more car and transportation content!

Join the conversation about this story »

NOW WATCH: This trike is made to look like a semitruck

• Saudi Arabia is walking away from a deal with Virgin Hyperloop, the Financial Times reports. The deal included a feasibility study — the agreement for which was expected to be signed at the Future Investment Initiative conference, otherwise known as "Davos in the Desert."
• The move comes after Virgin Group chairman Richard Branson said he would suspend working with the Kingdom in the wake of Jamal Khashoggi's disappearance.
• Swaths of US executives have declined to attend the Future Investment Initiative conference next week.

Saudi Arabia is walking away from a deal with Virgin Hyperloop, the Financial Times reports. The deal included a feasibility study — the agreement for which was expected to be signed at the Future Investment Initiative conference, otherwise known as "Davos in the Desert."

The move comes in response to the company joining droves of others who pulled out of the conference, following the disappearance and possible murder of Jamal Khashoggi, a naturalized US citizen and Washington Post columnist.

Virgin Hyperloop One, one iteration of Elon Musk’s visionary Hyperloop transportation project, unveiled its first pod prototype earlier this year. Saudi Arabia is one one of its most important backers, and heralded the project as one that could “enable all 4th-generation technologies to flourish in the Kingdom.”

On Thursday of last week, as evidence was mounting that Saudi officials were believed to have killed the Washington Post columnist Jamal Khashoggi at the Kingdom’s consulate in Istanbul, Branson joined the likes of JPMorgan CEO Jamie Dimon, Uber CEO Dara Khosrowshahi and others in pulling out of the conference.

"I had high hopes for the current government in the Kingdom of Saudi Arabia and its leader Crown Prince Mohammed bin Salman and it is why I was delighted to accept two directorships in the tourism projects around the Red Sea,” Branson said in a blog post published October 11.

"What has reportedly happened in Turkey around the disappearance of journalist Jamal Khashoggi, if proved true, would clearly change the ability of any of us in the West to do business with the Saudi Government."

You can read everything we know about the troubling disappearance of Saudi journalist Jamal Khashoggi here.

*An earlier version of this post misstated the size of Saudi Arabia's investment in Hyperloop One. 

SEE ALSO: Richard Branson just unveiled his vision for Virgin Hyperloop One — and it looks straight out of a sci-fi film

Join the conversation about this story »

NOW WATCH: There are a set of wheels the let you drive side to side

• Sir Richard Branson is stepping down as chairman of Virgin Hyperloop One citing the company's need for a more "hands-on" leader.
• The Financial Times reported last week that Saudi Arabia had terminated a planned deal with Virgin Hyperloop One after Branson halted investment talks with Riyadh over the Jamal Khashoggi affair.
• Earlier this month Branson said Virgin Group would suspend investment discussions with Saudi Arabia's Public Investment Fund in light of the disappearance of Saudi journalist Jamal Khashoggi who was killed inside the consulate in Istanbul.

Richard Branson is quitting as chairman of Virgin Hyperloop One, saying the company, that plans to build a supersonic transport system in the United Arab Emirates and other countries, needs a more actively involved leader, the firm said on Monday.

The Financial Times reported last week that Saudi Arabia had terminated a planned deal with Virgin Hyperloop One after Branson halted investment talks with Riyadh over the Jamal Khashoggi affair.

The company made no reference to that in its statement on Monday.

"At this stage in the company's evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities," the statement quoted Branson as saying.

"It will be difficult for me to fulfill that commitment as I already devote significant time to my philanthropic ventures and the many businesses within the Virgin Group."

Virgin Hyperloop One's biggest shareholder, Dubai's DP World, said the company was seeking a new chairman.

Earlier this month Branson said his Virgin Group would suspend discussions with Saudi Arabia's Public Investment Fund over a planned $1 billion investment in the group's space ventures, in light of the disappearance of Saudi journalist Jamal Khashoggi who was killed inside the consulate in Istanbul.

Branson also suspended his directorship in two Saudi tourism projects around the Red Sea.

SEE ALSO: People are threatening to boycott Ryanair after the airline failed to remove a white man who shouted racist insults at an elderly black woman on one of its flights

FOLLOW US: On Facebook for more car and transportation content!

Join the conversation about this story »

NOW WATCH: Why babies can't drink water

Sir Richard Branson's newest space company, Virgin Orbit, just debuted its full rocket-and-airplane launch system for the first time.

The airplane is a commercial 747-400 jet called "Cosmic Girl," and the orbital-class rocket is named "LauncherOne."

Virgin Orbit aims to use the retrofitted jet to tow LauncherOne as high above Earth as possible, release the rocket, and then blast a small-satellite payload into orbit around Earth.

"Air launch frees missions from traffic jams at the existing launch sites; eliminates the need for costly, fixed ground infrastructure; and makes the system more resilient to unfavorable weather conditions," the company said in an emailed press release.

Here's what the new system looks like.

SEE ALSO: SpaceX's list of competitors is growing — here are 9 futuristic rockets in the pipeline for the new space race

DON'T MISS: Giant high-tech balloons might soon make rockets and satellites obsolete — here's how

Sending a rocket into space is astronomically expensive. Even the most affordable launch vehicles today, such as the Falcon 9 rocket built by Elon Musk's space company, SpaceX, can cost more than $62 million per flight.

Source: Business Insider

But the demand to launch smaller, less expensive satellites more frequently is booming, thanks to advances in materials, sensors, and software.

Source: Allied Market Research

Branson hopes to help meet that demand by exclusively launching smaller payloads more often and more affordably with Virgin Orbit.