A tech billionaire dubbed the real life Tony Stark, whose company has ambitions to one day colonise Mars, has received major investment from Fidelity.
Space X, one of Elon Musk's many businesses, has the ultimate goal of enabling people to live on other planets.
This week it has raised a billion dollars in a financing round with two new investors, Google and Fidelity, which will collectively own just under 10% of the company.
Space X said on its website: "This funding will be used to support continued innovation in the areas of space transport, reusability, and satellite manufacturing."
{desktop}{/desktop}{mobile}{/mobile}
SpaceX designs, manufactures, and launches the advanced rockets and spacecraft and has a contract with NASA for carrying cargo and people to the International Space Station.
Mr Musk founded and sold off PayPal for over £100m and set up Space X in 2002. He has also established Tesla Motors, a start-up car manufacturer producing all-electric powered cars.
He has been compared to the Marvel comic character Tony Stark, the genius rich inventor, played by Robert Downey Junior in the hit Hollywood Iron Man films.
One of the producers of the movies told the Telegraph last year that he had in fact spoken to Mr Musk as part of the production process and parts of Iron Man 2 had been filmed at the headquarters of Space X.
Existing investors in Space X include Founders Fund, Draper Fisher Jurvetson, Valor Equity Partners and Capricorn.
Get FREE daily news summaries direct to your inbox. Sign up on the homepage now.Follow us on Twitter and get frequent news alerts @FPM_online.Or follow Editor Kevin O'Donnell - @FPM_Kevin or staff writer James Nadal - @FPM_James.For the latest Sipp, SSAS and retirement news visit our sister news site www.sippsprofessional.co.uk and on Twitter @SippsPro.
