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The race to be the first billionaire in space is on.

In June, Amazon CEO and richest man in the world Jeff Bezos announced that he, along with his brother, will be flying into space aboard Blue Origin's New Shepard spacecraft on July 20.

However, he may not be the first very rich dude to do that, as Virgin Galactic founder and also billionaire Richard Branson announced that he will be flying into space aboard the next Virgin Galactic flight.

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Virgin Galactic's next spaceflight is scheduled for July 11, meaning that Branson should beat Bezos by nine days, which is probably the best way to truly annoy the richest man in the world.

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"I truly believe that space belongs to all of us. After 17 years of research, engineering and innovation, Virgin Galactic stands at the vanguard of a new commercial space industry poised to open the universe to humankind and change the world for good," Branson said in a statement.

SEE ALSO:Virgin Galactic gets OK to bring customers to space

This will be 22nd flight test for Virgin Galactic's VSS Unity spacecraft, and the first carrying a full crew, consisting of Virgin Galactic employees. The spacecraft is designed for space tourism, with a spacious cabin and tons of windows. It launches from an aircraft, and is capable of reaching an altitude of about 55 miles. In comparison, Blue Origin's New Shepard, which launches from the ground, has previously reached the altitude of about 66 miles.

Given that the internationally recognized boundary of space, also called the Karman line, is at 62 miles of altitude, this should give Bezos something to brag about even if Branson gets to space first. But Virgin Galactic's spacecraft should be able to comfortably reach the NASA-defined boundary of space, which is 50 miles.

The company will share a livestream of the event over at its website and YouTube channel, starting at 9 a.m. ET on July 11.

There should also be some news following the flight, as Branson said that he would announce something "very exciting to give more people the chance to become an astronaut."

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