First Space Tourist Sets Sights On A Mars Mission

Space tourist Dennis Tito celebrates after his landing near the Kazakh town of Arkalyk on May 6, 2001.

The world's first space tourist is financing a project that aims to launch an American man and woman on a mission to fly by Mars in 2018.

Back in 2001, businessman Dennis Tito shelled out about $20 million to ride a Russian spaceship up to the International Space Station. Now he's unveiled a new nonprofit group called the Inspiration Mars Foundation.

It's working to take advantage of a launch opportunity coming up in January of 2018. That's when the planets will be aligned in a way that would let people fly to Mars, loop around the planet, and return home in just 501 days — a pretty short trip.

At their closest approach, the two space travelers would be within 100 miles of the red planet. "I mean, that's essentially being there," says Tito, who held a press conference at the National Press Club in Washington, D.C., to announce his plans.