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by Alex Vikoulov [Posted July 9, 2019 3.55 pm PST]  Richard Branson’s space-tourism venture Virgin Galactic readies for liftoff as a publicly-traded company. The special-purpose acquisition firm, Social Capital Hedosophia Holdings, plans to invest about $800 million in Virgin Galactic for a 49% stake in the company with profits expected by 2021.
As first reported by The Wall Street Journal, British billionaire Richard Branson has just announced plans to take Virgin Galactic public by year-end, in order to compete against rivals such as Jeff Bezos' Blue Origin and Elon Musk's SpaceX in the new corporate space race.
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