Allen revealed as SS1 backer
Posted: Fri, Dec 19, 2003, 5:32 AM ET (1032 GMT)
Billionaire Paul Allen confirmed late Wednesday that he is the financial supporter of Scaled Composites' SpaceShipOne (SS1) vehicle. Allen said in a press release that he has sponsored the SS1 project, which is attempting to win the X Prize. Allen had long been rumored to be the backer, but he had declined to confirm the speculation until after SS1 performed its first powered flight test on Wednesday. Allen was on hand for the test flight. Allen funded the SS1 project through his holding company, Vulcan, Inc. Allen co-founded software giant Microsoft in 1975 with Bill Gates, and has since gone on to a wide range of other ventures, ranging from ownership of cable television companies to professional sports franchises. Earlier this year Forbes magazine listed Allen as the third richest person in the US, behind Gates and Warren Buffett, with an estimated net worth of $22 billion.
Billionaire Paul Allen confirmed late Wednesday that he is the financial supporter of Scaled Composites' SpaceShipOne (SS1) vehicle. Allen said in a press release that he has sponsored the SS1 project, which is attempting to win the X Prize. Allen had long been rumored to be the backer, but he had declined to confirm the speculation until after SS1 performed its first powered flight test on Wednesday. Allen was on hand for the test flight. Allen funded the SS1 project through his holding company, Vulcan, Inc. Allen co-founded software giant Microsoft in 1975 with Bill Gates, and has since gone on to a wide range of other ventures, ranging from ownership of cable television companies to professional sports franchises. Earlier this year Forbes magazine listed Allen as the third richest person in the US, behind Gates and Warren Buffett, with an estimated net worth of $22 billion.
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