BREVARD COUNTY, Fla. — British billionaire Richard Branson is ending his funding of his space tourism venture Virgin Galactic.
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Shares of Virgin Galactic plunged this week after the news.
Branson said he has no plans to invest more money in the company, saying it has “sufficient funds” already.
Watch: Leaders say commercial space industry is reaching inflection point
He says he has already invested almost $1 billion in Virgin Galactic.
The company flew its first customers to the edge of space earlier this year.
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