Goldman Sachs Says The First Trillionaire Will Invest In Space: Here's Where To Get Your Hands Dirty

Monday, 23 April 2018 - 10:48AM
Space
Technology
Monday, 23 April 2018 - 10:48AM
Goldman Sachs Says The First Trillionaire Will Invest In Space: Here's Where To Get Your Hands Dirty
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Image Credit: Public Domain
Decades after the Bitcoin hype-train grinds to a halt, the real gold rush will begin – in space. We already know there's an asteroid worth approximately $700 quintillion floating around, and Luxembourg is getting a jump on becoming the world's go-to country for asteroid mining operations. Now Goldman Sachs is claiming that the first trillionaire will make their massive fortune by mining asteroids.

Many asteroids are loaded with valuable raw materials – including iron and nickel – and NASA has already catalogued about 12,000 of them within our solar system. In addition to metals, some space rocks contain literal diamonds as well. The staggering amount of wealth in our solar system alone makes asteroid mining one of the few industries where a person can make (in this case literally) unearthly riches... And Goldman Sachs says it's essentially free for the taking. According to a new report the company published:

Opening quote
"While the psychological barrier to mining asteroids is high, the actual financial and technological barriers are far lower. Prospecting probes can likely be built for tens of millions of dollars each and Caltech has suggested an asteroid-grabbing spacecraft could cost $2.6 billion."
Closing quote


Sure, the initial investments are measured in tens of millions and billions, but SpaceX is making plans – one of their Falcon Heavy rocket's many uses includes ferrying mining equipment to asteroids. It's estimated that the Falcon Heavy engines can reach about 45% of asteroids out there. Meanwhile, Luxembourg has already started signing deals with asteroid mining companies like Deep Space Industries and Planetary Resources. According to Etienne Schneider, Luxembourg's minister of the economy:

Opening quote
"Our goal is to put into place an overall framework for the exploration and commercial use of resources from 'celestial bodies' such as asteroids, or from the moon."
Closing quote


What would an asteroid mining mogul do with their trillion dollars? Maybe spend an entire lifetime about the upcoming luxury space hotel, the Aurora Station. At $800,000 per night, it almost seems reasonably priced...


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