From basement start-up to private spacewalk: The rise of Jared Isaacman, new chief of NASA

Jared Isaacman, the billionaire entrepreneur and pilot, has become a prominent figure in both the financial technology and aerospace sectors. His journey began in 1999 when, at the age of 16, he dropped out of high school to start a payment processing company in his parents’ basement in New Jersey. Isaacman has been sworn in as the new NASA Chief. Here's a look at his life before his role at NASA.

The Foundation of Shift4

The company, originally called United Bank Card and now known as Shift4 Payments, was born from Isaacman’s realisation that the process of setting up credit card terminals for small businesses was unnecessarily complex. Despite his youth, he secured a $10,000 investment from his grandfather and built a business that simplified the merchant experience. Today, Shift4 processes over $200 billion in transactions annually for hundreds of thousands of businesses, including major hotels and restaurant chains.

Aviation and Military Training

Parallel to his business success, Isaacman pursued a passion for aviation. In 2009, he set a world record for the fastest flight around the globe in a light jet. His interest in high-performance aircraft led him to found Draken International in 2011. The company owns one of the world’s largest fleets of retired military fighter jets and provides tactical flight training to the United States Air Force. Isaacman eventually sold a majority stake in Draken to Blackstone for a sum in the hundreds of millions.

Pioneering Private Space Exploration

Isaacman is now best known for his collaboration with Elon Musk’s SpaceX. In 2021, he funded and commanded Inspiration4, the first all-civilian mission to orbit Earth. The three-day mission raised over $250 million for St Jude Children’s Research Hospital.

In September 2024, Isaacman pushed the boundaries further with the Polaris Dawn mission. This mission reached the highest orbit of any human since the Apollo moon landings. Most notably, Isaacman performed the first-ever private spacewalk, exiting the Crew Dragon capsule to test a new generation of SpaceX spacesuits.

A Focus on Risk and Philanthropy

Despite his immense wealth, Isaacman is often described as a focused and disciplined leader who prioritises high-stakes challenges. His current endeavours through the Polaris Programme aim to accelerate the development of technologies required for long-duration space travel. While his business achievements made him a billionaire, his willingness to personally lead dangerous missions has established him as a key architect of the new commercial space age.