Billionaire space race (SEDS). Later, Jeff Bezos became a chapter president of SEDS. In the 1990s, Diamandis, dissolute with the state of space development, decided to spur it on and spark the suborbital space tourism market, by initiating a prize, the X Prize. This led to Paul Allen becoming involved in the competition, creating the Scaled Composites Tier One platform of SpaceShipOne and White Knight One which won the Ansari X-Prize in the 2000s. The technology of the winning entrant was then licensed by Richard Branson's Virgin Group as a basis to found Virgin Galactic. The base techniques of Tier One also form
Economy of the British Virgin Islands New York telephoned him with a proposal to incorporate a company in the British Virgin Islands to take advantage of a double taxation relief treaty with the United States. Within the space of a few years, hundreds of such companies had been incorporated. This eventually came to the attention of the United States government, who unilaterally revoked the Treaty in 1981. In 1984, the British Virgin Islands, trying to recapture some of the lost offshore business, enacted a new form of companies legislation, the International Business Companies Act, under which an offshore company which was exempt from local taxes could