Billionaire Jared Issacman marks major moment for space industry
Elon Musk’s SpaceX marked another historic first.
Transcript:
CONAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
The final pieces of the economic puzzle before the Federal Reserve’s September interest rate decision came in view on Thursday. Wholesale inflation rose 0.2 percent in August, which was inline with forecasts. The Producer Price Index was up 1.7 percent over the past 12 months. Meanwhile, applications for jobless claims inched higher for the week ended September 7th. The report indicates a labor market that is softening without a surge in layoffs.
Shifting to other headlines: Elon Musk’s SpaceX marked another historic first. Billionaire Jared Issacman and SpaceX engineer Sarah Gillis became the first two civilians ever to take part in a spacewalk. They each spent about 10 minutes in the vacuum of space. Such a feat is usually reserved for government astronauts with years of training.
The auspicious moment came when they both exited - but remained tethered - to a SpaceX Dragon capsule hundreds of miles above earth. After the walk, a reflective Isaacman said, “Back at home we all have a lot of work to do but from here, Earth sure looks like a perfect world.”
Issacman, who made his billions foundingas founder of electronics payment company Shift4, bankrolled the space excursion. Though he declined to say how much he paid, experts believe the cost was likely in the hundreds of millions of dollars.
The civilian spacewalk marks a pivotal moment in the makings of the Space tourism industry. For its part, SpaceX pulled off another risky venture, which required new spacesuits and procedures to ensure the safety of passengers and crew. NASA administrator Bill Nelson heaped praise on SpaceX in a post on X, calling the moment “a giant leap forward for the commercial space industry and NASA’s long-term goal to build a vibrant U.S. space economy.”
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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