NASA chose Elon Musk's SpaceX over Jeff Bezos' Blue Origin and defence contractor Dynetics Inc. for a $2.9 billion deal to develop a spacecraft that will take astronauts to the moon as soon as 2024, the agency revealed on Friday. According to Forbes, Bezos, and Musk, the world's first and third-richest people, were vying to take mankind back to the moon for the first time since 1972.

Musk's SpaceX placed a solo bid, while Jeff Bezos' Blue Origin teamed up with Lockheed Martin Corp, Northrop Grumman Corp, and Draper. Leidos Holdings Inc. has a division called Dynetics.

The deal for the first commercial human lander was won by NASA as part of its Artemis project.   The lander would transport two American astronauts to the lunar surface, according to NASA. During the video conference announcement, NASA acting administrator Steve Jurczyk said, "We can achieve the next touchdown as quickly as possible."

SpaceX's Starship has a large cabin and two airlocks for astronaut moonwalks, according to NASA, and its construction is planned to develop into a reusable space launch and landing system for lunar missions, Mars, and other celestial bodies.

“We are deeply touched to help @NASAArtemis usher in a new age of human space exploration,” SpaceX wrote on Twitter. But unlike Apollo landings, which were the only human trips to the moon's surface from 1969 to 1972, NASA is planning for a longer-term lunar presence as a necessary step to an even more ambitious plan to send astronauts to Mars.

NASA is relying extensively on private companies with common space exploration visions. NASA official Lisa Watson-Morgan told reporters that a test flight of the lunar module to the moon would be required before humans travel there. NASA had intended to restrict the lunar lander competition to two companies by the end of April but rather chose only SpaceX, strengthening their partnership. NASA announced on Thursday that its crew would be deployed to the International Space Station on April 22 aboard a SpaceX rocket.

The agency intends to establish a daily lunar service and has announced that a separate contest will be held for that deal. Mark Kirasich, a deputy associate administrator for NASA's Advanced Exploration Systems division, said, "We must be able to provide for ongoing lunar services." The news capped off an incredible run for Musk, who has converted Tesla Inc. into the world's most profitable automobile manufacturer, with a market capitalization of $702 billion.

Musk has evolved into a one-man technology conglomerate, launching or managing businesses focused on space travel, electric vehicles, neural implants, and underground tunnel boring. “And what's the best benefit to the government,” said Kathy Lueders, associate administrator for NASA's Human Exploration and Operations Mission Directorate, was a factor in the choice of SpaceX.

SpaceX's HLS Starship, which is equipped to land on the moon, "based on the company's proven Raptor engines and flight legacy of the Falcon and Dragon vehicles," according to NASA. NASA's decision was a disappointment for Bezos, a lifetime space lover who is now focusing on his space project after declaring his farewell as Amazon CEO in February. Bezos and other executives saw the deal as critical to Blue Origin establishing itself as a sought-after partner for NASA while also placing the company on the path to profitability. Musk has laid out a bold plan for SpaceX and its reusable rockets, which involves having humans on Mars.

However, SpaceX's primary business in the short term has been releasing satellites for Musk's Starlink internet venture, and other satellites and space cargo. On Wednesday, SpaceX reported that it had raised $1.16 billion in equity funding. After a test launch from Boca Chica, Texas, an unmanned SpaceX Starship experimental rocket failed to land safely on March 30.

The Starship was one of several designs for SpaceX's heavy-lift rocket that will be used to transport humans and 100 tonnes of cargo to the moon and Mars in the future.

The first interstellar Starship flight is scheduled for the end of the year. SpaceX, the private rocket corporation founded by billionaire Elon Musk, has generated around $1.16 billion in equity funding in the last two months, according to an updated regulatory filing lately.