The world’s first trillionaire could be made possible by asteroid mining, says Goldman Sachs.
As the super-rich like Amazon founder Jeff Bezos zoom past $100 billion, the likelihood is growing that someone may achieve far greater wealth than that, and in a totally new industry. An astonishing new report from Goldman Sachs claims that the first trillionaire may not be too far away, and that fortune will likely be made in asteroid mining.
While the challenge seems daunting, Goldman Sachs notes that a probe to send to an asteroid would only costs tens of millions of dollars and Caltech believes a spacecraft capable of grabbing an asteroid would only cost $2.6 billion. That sounds like a lot, but it pales in comparison to what an asteroid could provide.
Asteroids are filled with an incredible amount of precious metals, and the first person to start successfully mining them could amass an incredible fortune, Goldman Sachs believe.
“Long dominated by government agencies, space is now in play for private companies and venture capital firms, which see big potential in areas like launch, communications and exploration,” reads a summary from a May 2017 Goldman Sachs podcast that dives into the issue. “Noah Poponak, senior Aerospace and Defense equity research analyst for Goldman Sachs Research, says this investment interest has helped reduce launch costs and spur innovation across related industries, opening up a new chapter in the history of the space economy.”
Adds a January statement by Metals dot com: “NASA has identified more than 12,000 asteroids within approximately 45 million kilometers of our planet. Geologists believe they are packed with iron ore, nickel and precious metals at much higher concentrations than those found on Earth. Scientific missions to bring back asteroid samples to Earth are underway and metals.com has announced a $100 Million dollar venture capital fund to develop a carbonyl process for mining. This involves passing carbon monoxide over the asteroid at a temperature between 50° and 60°C, then nickel, iron, platinum and gold can be removed at higher temperatures.”