Bezos and Branson plan to use their space journeys to demonstrate that it is safe for humans to travel beyond Earth before they launch their space tourism ventures. Both of their space companies have been researching and testing the safety of their aircrafts for nearly 20 years.

Branson said of Virgin Galactic that “our aim is to bring the price of space travel down”, he told ABC News.

“I truly believe that space belongs to all of us,” Branson said in a previous statement. “After 16 years of research, engineering and testing, Virgin Galactic stands at the vanguard of a new commercial space industry, which is set to open space to humankind and change the world for good.”

In June, Branson moved one step closer to being able to offer commercial flights when the Federal Aviation Administration (FAA) updated Virgin Galactic’s existing commercial space transportation operator license to allow the space line to fly customers to space. Virgin Galactic had held the operator’s license since 2016 but was allowed to run only test flights.

As space tourism gets closer to reality, anyone interested in such a voyage must have deep pockets. Branson could begin offering a full commercial service in 2022, and tickets for a Virgin Galactic flight could cost $250,000 each, according to the BBC.

At least 600 people already are on a waiting list, the British broadcaster reported. The Italian Air Force will be among the first to pay for a trip.

Blue Origin, founded by Bezos in 2000 and privately funded, is also hurtling closer toward offering space tourism. It will charge passengers $200,000 for a ticket to space, according to Reuters.

The world’s second-richest man with a net worth of $186.2 billion, Bezos has reportedly put more than $1 billion into the aerospace venture.

Meanwhile, SpaceX, run by Musk, also known as the CEO of electric-car company Tesla, is also making strides.

SpaceX was the first private company to take humans from the US to the International Space Station in May 2020. It plans to put a crew into orbit in September.