Boeing to buy $20 million minority stake in Virgin Galactic


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HorizonX, a venture capital division of Boeing, today announced that it will purchase a $20 million minority stake in Virgini Galactic once the company goes public later this year.

Boeing’s venture arm HorizonX announced on Tuesday it will invest $20 million in Sir Richard Branson’s space tourism company Virgin Galactic to help develop the technologies needed to make hypersonic air travel possible one day.

All I can say is I do not understand how Richard Branson can fool so many people for so long for so much, while delivering practically nothing.

Hat tip Robert Pratt of Pratt on Texas.

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3 comments

  • mike shupp

    I gather Boeing is run by (and for) financiers these days rather than engineers.

  • Col Beausabre

    Despite my (lack of positive) feelings about Richard Branson, I have to stand in awe of his ability to self promote and sling BS.

  • Edward

    mike shupp wrote: “I gather Boeing is run by (and for) financiers these days rather than engineers.

    From the article: “Boeing’s venture arm HorizonX announced …

    I think it is more likely that financial types rather than engineers would create a venture arm of an engineering company.

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