On Tuesday, Amazon founder Jeff Bezos gave details about expanded plans for his rocket business, which will carry cargo, satellites and someday people into the great unknown. Alike his fellow billionaires, Bezos has a far-out insight for where his Blue Origin project will possibly lead. With this, Bezos has challenged Elon Musk and Richard Branson in a race to outer space.

Following the announcement in Cape Canaveral, Fla, during a rare, 30-minute conversation with reporters, Bezos said their ultimate vision is millions of people living and working in space.

Musk, the Los Angeles entrepreneur who is the founder of SpaceX, lately told ‘Late Show’ host Stephen Colbert that he envisions a ‘multi-planet species’ that will move out of Earth's suffocating pollution to live, for starters, on Mars.

Founder of Virgin Galactic, Britain's Branson has a relatively modest vision of celestial tourism with $250,000 per ticket. He's a collection of at least 700 deposits wherein many of them have come from other billionaires. But he eventually is willing to ‘democratize’ access to space.

These all insights are more than just flights of fancy as all three of them have backed the big talk with big money and have done years of study and development.

These billionaires have already scored lucrative deals. Under a $1.6-billion contract with NASA, Musk's SpaceX has been carrying payloads to the International Space Station, serving a wide array of commercial clients. Virgin Galactic said in June that its LauncherOne rocket was selected to launch at least 39 satellites into orbit for OneWeb Ltd., which is a start-up looking forward to provide global Internet service.