A billionaire astronaut bought up to three SpaceX flights and hopes to begin a new mission later this year

• Jared Isaacman plans to return to space after leading SpaceX's Inspiration4 mission last year.
• The billionaire astronaut said he plans to launch up to three missions with SpaceX.

Jared Isaacman announced on Monday that he plans to fly to outer space with SpaceX again, after participating in Inspiration4, the company's first private flight to orbit last year.

The billionaire astronaut has commissioned up to three spaceflights with Elon Musk's company as part of an initiative called the Polaris Program. Isaacman plans to launch a crew of four using SpaceX's Falcon 9 rocket and Crew Dragon spacecraft as soon as later this year.

Isaacman will lead the first mission and told The Washington Post it will include several historic firsts, including the first private spacewalk and crew testing of Starlink communications in space. The mission will require the crew to spend up to five days in orbit and aims to send the group farther than any other human spaceflight in 50 years.

In addition to Isaacman, the crew for the first mission will include another member of the Inspiration4 mission, Scott Poteet, as well as two SpaceX engineers, Sarah Gillis and Anna Menon. The first flight will test human health on long duration trips into space, paving the way for a future in outer space.

"The Polaris Program is an important step in advancing human space exploration while helping to solve problems through the use of innovative technology here on Earth," Isaacman said in a press release.

In its second flight, the Polaris Program plans to use SpaceX's Dragon spacecraft, which NASA uses to transport astronauts to the International Space Station. The third flight would be on SpaceX's next-generation Starship. SpaceX is still in the process of developing the spaceship, but NASA plans to use it to eventually return to the moon.

SpaceX and Isaacman did not respond to a request for comment from Insider regarding how much the endeavor will cost.

Isaacman, the billionaire founder of payment processing company Shift4, previously funded SpaceX's Inspiration4 mission — a flight that sent Isaacman and three other private citizens into orbit for three days in September. At the time, Isaacman hinted that he wanted to return to space on future flights.

Much like the Inspiration4 mission, the Polaris Program will also raise funds for St. Jude Children's Research Hospital.