Sir Richard Branson has revealed he plans to develop supersonic planes so fast that passengers will be able to travel between New York and Tokyo in less than an hour.
Flying at speeds of 19,000 mph, the entrepreneur revealed that the technology to build the high speed aircraft could be available soon.
Branson who is also currently preparing to launch his Virgin Galactic space tourism project said: "After we've done the space program, we will be producing supersonic planes, which will go far, far, faster than Concorde.
"If we get it right, New York to Tokyo could be less than an hour. You could be traveling at 19,000 miles per hour orbitally."
Concorde was the fastest commercial flight in the world, travelling between New York and London in just three hours, but the aircraft was retired by British Airways more than 10 years ago.
The 63-year-old billionaire said he is now eager to make the superfast commercial planes a reality in his lifetime.
Meanwhile, the Virgin Galactic programme is in its final stages.
700 people including Hollywood stars such as Leonardo DiCaprio, high profile business people and Branson's own family have signed up to become the first space tourists.